What’s on the Economic Horizon
German consumer climate report on tap
U.K. public sector net borrowing seen at 13.6B
U.S. consumer confidence expected to weaken
U.S. Dollar (USD)
We got mixed results from the dollar yesterday as it strengthened against the euro, Swissy, and the comdolls, but weakened against the yen and the pound. What can we expect from it today? Read more…
Euro (EUR)
Rough start to the week for the euro, as it dropped against the dollar, yen, and pound. Could this be a sign of more losses in the days to come? Read more…
British Pound (GBP)
After gapping down over the weekend, GBP/USD swung this way and that before it managed to end the day in the green by closing 11 pips up from its 1.5562 open price. GBP/JPY, on the other hand, didn’t have such a good day as it chalked up a 123-pip loss from its 125.24 open price. Read more…
Japanese Yen (JPY)
No weakness here! The yen was pure muscle on the charts yesterday as it beefed up against all of its major counterparts. It snatched 84 pips away from the dollar, while gaining 140 pips against the euro and 123 pips against the pound. Can we expect more of the same today? Read more…
Canadian Dollar (CAD)
With no data being released, USD/CAD traded to the beat of risk aversion. Unfortunately for the Loonie bulls, risk aversion took its turn at the top of the hill yesterday, allowing the dollar bulls to edge higher. USD/CAD traded as high as 1.0319 before settling at 1.0291, up 34 pips on the day. Read more…
Australian Dollar (AUD)
Down she goes again! The Aussie might’ve taken a break from falling down the charts last Friday, but yesterday, she made up for lost time. AUD/USD began the week by gapping down from 1.0069 to 1.0043 and continued falling until it settled at 1.0007 at the end of the New York session. Read more…
New Zealand Dollar (NZD)
The Kiwi had its wings clipped by risk aversion yesterday as NZD/USD edged down to a low of .7844. The pair was able to recover some of its earlier losses during the U.S. session as it climbed back up to close at .7874. Read more…
Swiss Franc (CHF)
USD/CHF crawled farther away from its weekend gap as it edged up the charts in yesterday’s trading. The pair opened at .9573, reached a high of .9630, before it closed at .9604. Will the gap get filled today? 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!
