What’s on the Economic Horizon
British GDP Figures Due Today
German IFO Business Climate Index Projected at 104.3
U.S. New Home Sales on the Rise?
U.S. Dollar (USD)
Chalk up another victory for the scrilla baby! Once again, the dollar edged higher versus higher yielding currencies, as risk aversion was still present in the markets. Can dollar domination continue or could we see a midweek reversal? Read more…
Euro (EUR)
Euro just hit a new low, low, low, low! A new 25-month low against the dollar, that is! Before closing the day with a 64-pip loss at 1.2071, EUR/USD tapped 1.2042, its lowest level in more than two years! Read more…
British Pound (GBP)
Different strokes for different folks! While some traders decided to dump the pound in favor of the dollar, others bought it up against the euro. As a result, GBP/USD stayed low and finished 6 pips lower at 1.5517, while EUR/GBP dropped 38 pips to undo Monday’s gains and end at .7779. Read more…
Japanese Yen (JPY)
With risk aversion in full tow, the yen continued to batter away at the European currencies yesterday. EUR/JPY slid 75 pips lower to finish at 94.38, while GBP/JPY dropped 36 pips to end the day at 121.33. Read more…
Canadian Dollar (CAD)
Traders didn’t go loco for the Loonie yesterday in the face of weaker than expected retail sales and risk aversion. USD/CAD traded higher after opening at 1.0169 to finish the day at 1.0203. Read more…
Australian Dollar (AUD)
And the slump continues! After a brief pause earlier in the day, the Aussie came crashing lower during the New York session as the sell-off continued. AUD/USD closed 27 pips lower to finish at 1.0252. Read more…
New Zealand Dollar (NZD)
The Kiwi received a boost from positive Chinese data early in the day, but because of risk aversion, it eventually erased all of its gains! NZD/USD crawled lower for the third straight day, ending 26 pips below its opening price at .7866. Read more…
Swiss Franc (CHF)
There it goes again! The Swissy found itself on the losing end of the equation as it slipped against the Greenback. USD/CHF finally broke above the .9900 handle, ending the day 53 pips higher at .9950. Can the market sustain these levels? 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!
