What’s on the Economic Horizon
U.S. Headline Inflation Rate to Turn Negative?
Euro zone Purchasing Managers’ Index on Deck
U.S. Dollar (USD)
The Greenback got a little bit of reprieve yesterday as it finally able to defend itself against the advances of other major currencies. For the first time in four days, the U.S. dollar index gained. It rose to 80.39 from 80.27. Read more…
Euro (EUR)
Talk about resilience! While most currencies were getting their butts kicked by the dollar, the euro managed to hold its ground pretty well. EUR/USD only slipped 6 pips to 1.3075. Read more…
British Pound (GBP)
Rough day for the pound bulls, who simply couldn’t sustain the momentum it had built from earlier in the week. The question is, will GBP/USD continue to slide lower or will this be an opportunity for the bulls come back in force? Read more…
Japanese Yen (JPY)
The Japanese yen continued to crumble under bearish pressure yesterday as it posted losses against almost all major currencies. EUR/JPY rose to 109.28 from 108.82, GBP/JPY jumped to 134.65 from m 134.41, and USD/JPY climbed to 83.58 from 83.18. Read more…
Canadian Dollar (CAD)
And the Loonie’s winning streak finally comes to an end! The Canadian currency just couldn’t overcome its American counterpart yesterday as traders were spooked by U.S. fiscal worries. After an entire day of trading, USD/CAD finished 13 pips higher at .9852. Read more…
Australian Dollar (AUD)
The Aussie sank like a rock in yesterday’s trading session as “fiscal cliff” talks dampened market sentiment. AUD/USD, which began the day at 1.0565, found itself sitting at 1.0515 by the end of the U.S. trading session. Read more…
New Zealand Dollar (NZD)
Zzzzz… Did all the Kiwi traders go off to watch the Hobbit?! With no hard data lined up, we saw consolidation take over NZD/USD. By the end of the day, the pair was trading at .8428, down just 10 pips from its opening price. Read more…
Swiss Franc (CHF)
Talk about being a party pooper! Instead of rockin’ the markets with comments about the EUR/CHF peg, the SNB chose to focus on its growth and inflation forecasts. As a result, EUR/CHF dropped 32 pips from its opening price to finish at 1.2079. Read more…
Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.
In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.
Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!
