What’s on the Economic Horizon
PMIs from Europe disappoint expectations
RBA rate decision scheduled today
Shirakawa rejects calls for a more aggressive monetary policy
U.S. Dollar (USD)
How’s that for tripping at the starting line! The dollar began the week with a very disappointing performance, as it lost ground to both the euro and the yen. While EUR/USD climbed 82 pips to 1.3058, USD/JPY found itself sliding down 17 pips to 82.23. Can we expect more of the same today? Read more…
Euro (EUR)
Now that’s how you start the week with a bang! The euro flew up the charts, with EUR/JPY gaining 40 pips to finish at 107.38, while EUR/USD closed a solid 82 pips higher at 1.3058. Yowza! Read more…
British Pound (GBP)
Out of the way! Pound bulls chargin’ through! GBP/USD skyrocketed on the charts yesterday, trading past resistance around 1.6050 before closing the day at 1.6095, up 87 pips from its opening price. Meanwhile, GBP/JPY closed with a 48-pip gain at 132.34. Read more…
Japanese Yen (JPY)
The yen’s price action was as mixed as the alphabet soup as investors traded on risk sentiment. USD/JPY slipped by 17 pips on weak U.S. data, but optimism in the euro region boosted EUR/JPY by 50 pips and GBP/JPY by 48 pips. Read more…
Canadian Dollar (CAD)
With no hard data on tap, USD/CAD stayed within its recent range yet again. By the end of the day, the pair was trading at .9948, just 13 pips above its opening price. Read more…
Australian Dollar (AUD)
Consolidation is the name of the game for AUD/USD as the pair moved sideways just below its 1.0437 week open price yesterday. At the end of the day, the pair clocked in a 20-pip loss as it closed at 1.0417. Can the RBA statement give it a boost today? Read more…
New Zealand Dollar (NZD)
What a topsy-turvy day for the Kiwi! It got sold off early on in yesterday’s trading, tapping a low of .8171 against the dollar, before rallying to reach an intraday high of .8226. By the New York session close, it had settled at .8204, 8 pips below its opening price. Read more…
Swiss Franc (CHF)
Despite negative Swiss data, the franc was still sexy in yesterday’s trading and it knew it. USD/CHF continued to trade lower, trading around the .9250 minor psychological handle before closing the day 31 pips below its opening price at .9257. Read more…
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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!
