What’s on the Economic Horizon
Core PCE, Chicago PMI, and CB Consumer Confidence Survey on Deck
Euro zone Inflation Rate to Remain at 2.4%
Canadian Economy Expected to Have Expanded 0.2% in June
U.S. Dollar (USD)
Due to the absence of market-moving events yesterday, selling pressure on the Greenback eased. We saw the Greenback recover across the board as closed the U.S. trading session 41 pips higher versus the euro and 17 higher pips against the pound. Read more…
Euro (EUR)
Pretty slow start for the euro this week, as it didn’t shoot off to any new highs or lows versus the dollar and yen. Could we see more of the same ahead of this week’s ECB interest rate decision? Read more…
British Pound (GBP)
Down she goes! The pound traded lower against most of its counterparts yesterday following the release of worse than expected data from the U.K. GBP/USD dipped to an intraday low of 1.5673 before ending the day 17 pips below its opening price at 1.5711. Meanwhile, GBP/JPY finished with a 60-pip loss for the day at 122.84. Read more…
Japanese Yen (JPY)
In spite of the lack of high profile news reports, the yen was still able to trade firmer yesterday. The yen rallied 39 pips versus the dollar, 68 pips versus the euro, and 60 pips against the pound. Read more…
Canadian Dollar (CAD)
Make that four in a row baby! Thanks to the risk rally we saw yesterday, the Canadian dollar was able to edge higher versus the dollar. USD/CAD dropped 25 pips to finish the day 1.0019. Next stop parity? Read more…
Australian Dollar (AUD)
When there’s a will, there’s a way! Even though other major currencies sold-off versus the dollar, the Aussie remained resilient and actually posted some gains. AUD/USD marked its fourth straight day of gains as it closed the U.S. trading session 26 pips higher from its opening price. Read more…
New Zealand Dollar (NZD)
Without any market-moving data on tap yesterday, price action on NZD/USD was as exhilarating as the archery event in the Olympics. Ha! The pair traded in a 40-pip range before closing the day 17 pips below its opening price at .8086. Read more…
Swiss Franc (CHF)
The Swiss franc joined most of the other major currency’s in the losers bench yesterday as it also gave up pips to the dollar. USD/CHF traded higher, tapping an intraday high of .9825, before finishing 33 pips above its opening price at .9799. 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!
