What’s on the Economic Horizon
Draghi to testify about the economy
U.S. FOMC members due to speak
BOJ to announce more stimulus this week?
U.S. Dollar (USD)
The dollar better watch its step this week ’cause it looks like things are getting slippery out there! Last Friday, it slipped against its major counterparts as U.S. data supported the Fed’s easy monetary policy. EUR/USD closed at a new 7-month high at 1.3158 after climbing 82 pips. Read more…
Euro (EUR)
There’s no stopping the euro bulls’ drive! The euro was the least of the evils among the major currencies last Friday when domestic concerns in the U.S. and Japan made the common currency more attractive. Heck, the euro gained against the dollar, yen, AND the pound! Read more…
British Pound (GBP)
After a brief retracement on Thursday, GBP/USD capped off the week with another winning day as it closed 58 pips above its 1.6110 open price on Friday. GBP/JPY also managed to end the week strong as it edged close to the 135.00 handle. Read more…
Japanese Yen (JPY)
Big losses for the yen to start the week! As Japan’s general election results came out, the yen weakened strongly, resulting in huge weekend gaps. EUR/JPY gapped up 140 pips to start the week at 111.20, while USD/JPY jumped 97 pips to begin at 84.42. Will the yen keep falling or will it make up ground? Read more…
Canadian Dollar (CAD)
Down for another day! Better-than-expected Chinese data might have given the Loonie a boost early in the day, but optimism for U.S. Fiscal Cliff developments soon weighed on the higher-yielding currencies and lifted USD/CAD enough to close 12 pips higher than its open price. Read more…
Australian Dollar (AUD)
And the tug-o-war over the Aussie continues! This time, buyers were able to snatch control over AUD/USD as they boosted the pair up 48 pips to 1.0562, practically completely erasing Thursday’s losses altogether. Who will command AUD/USD this week? Read more…
New Zealand Dollar (NZD)
What a stellar week for the Kiwi! After breaking above the .8400 handle during the middle of the trading week, NZD/USD pushed for more gains as it closed near the .8450 mark on Friday. Will it be able to go for more gains this week? Read more…
Swiss Franc (CHF)
Way to go, little Swissy! The Swiss currency pocketed more gains against the Greenback on Friday as USD/CHF slipped below the .9200 mark at the end of the week. Will it continue to trade lower this week? 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!
