What’s on the Economic Horizon
British Economy Contracted By 0.7% in Q2 2012
ECB Member Nowotny Boosts the EUR
RBNZ Keeps Rates Steady at 2.50%
U.S. Dollar (USD)
As risk appetite picked up in yesterday’s trading, the dollar had to let go of some of its gains to the euro and the comdolls. But don’t fret! Market analysts say that the dollar’s break from the bulls yesterday is nowhere as serious as the R. Pats-Kristen Stewart break up. Read more…
Euro (EUR)
Will ya look at that? It seems there’s some life left in the euro after all! Even with the German IFO business climate report printing a downside surprise, the shared currency was able to post solid gains across the boards. EUR/USD undid Tuesday’s losses by climbing 85 pips to 1.2156, while EUR/JPY eased off its 12-year lows to finish 65 pips higher at 95.03. Let’s see if it can sustain these gains! Read more…
British Pound (GBP)
The pound just can’t catch a break can it? Despite a risk rally across the markets, the pound found itself at the loser’s table yesterday, falling 18 pips against the dollar to finish at 1.5499, while EUR/GBP closed at .7843, up 64 pips on the day. What gives? Read more…
Japanese Yen (JPY)
Despite Japan’s trade deficit narrowing, the yen was still unable to tap its inner Samurai warrior as risk appetite kept it from rallying against most of its higher-yielding counterparts yesterday. EUR/JPY ended the day higher at 95.03 after opening at 94.38. Meanwhile, AUD/JPY finished the day 47 pips higher at 80.62. Read more…
Canadian Dollar (CAD)
Thanks to a bit of good news from the euro zone, the Loonie got a rare taste of victory against the Greenback. It gained 50 solid pips against its American counterpart as USD/CAD slipped to 1.0153. Read more…
Australian Dollar (AUD)
The Aussie cruised up the charts as risk appetite picked up in yesterday’s trading. It ended the day 61 pips higher against the dollar at 1.0312. Meanwhile, against the yen, it scored a 47-pip win against the yen as it finished the day at 80.62. Read more…
New Zealand Dollar (NZD)
Just like its comdoll siblings, the Kiwi benefited from a nice risk rally yesterday. After zooming lower during the Tokyo session, NZD/USD rebounded later in the day and actually finished 21 pips higher at .7887. Read more…
Swiss Franc (CHF)
Wham, bam, thank you risk appetite, you’re the man! With sentiment improving across the board, the franc blasted through the dollar in yesterday’s trading action. USD/CHF dropped 69 pips to finish at .9881 and in the process, filled the weekend gap! 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!
