What’s on the Economic Horizon
Germany Prefers Long-Term Solution Than Immediate Action
U.S. Q1 2012 GDP at 1.9%
Positive Retail Sales Help Boost the JPY
U.S. Dollar (USD)
When risk appetite is away, you know the dollar bulls will play! Thanks to risk aversion in markets and the lack of downside surprises in the U.S. data, the Greenback was able to sneak in gains against its counterparts. Will today’s economic reports change the investors’ minds? Read more…
Euro (EUR)
Aaand down the euro goes! The shared currency closed lower against the dollar and the yen yesterday. By the end of the New York session, EUR/USD was down 21 pips from its opening price while EUR/JPY was 40 pips lower at 98.89. Read more…
British Pound (GBP)
Risk aversion and weak U.K. data did a real number on the pound yesterday as they teamed up to drag the British currency down the charts. GBP/USD hit a new two-week low as it slid 52 pips to 1.5514. Read more…
Japanese Yen (JPY)
Flawless victory! With risk sentiment working in favor of the yen, the Japanese currency was able to record solid gains against its top three counterparts. While USD/JPY ended the day 28 pips lower, EUR/JPY lost 50 pips and GBP/JPY slid 84 pips. Read more…
Canadian Dollar (CAD)
The Loonie was no match for the dollar in yesterday’s trading. USD/CAD bottomed at 1.0232 and skyrocketed all the way up to its intraday high of 1.0363. It then closed the day 75 pips above its opening price at 1.0330. Read more…
Australian Dollar (AUD)
The Aussie was given a big fat “F” in its performance report yesterday as it was sold heavily across the board. News reports suggest that traders continued to be risk averse due to speculation that Europe’s financial crisis will slow global growth. AUD/USD closed the day with a 32-pip loss while AUD/JPY ended 52 pips lower. Read more…
New Zealand Dollar (NZD)
The markets remained apprehensive about buying the Kiwi on concerns about the European debt crisis’ effects on global growth. After a strong start to the day which saw NZD/USD rise to .7964 in the Tokyo session, the pair sold off and ended at .7878, down 38 pips on the day. Read more…
Swiss Franc (CHF)
And the streak continues! With the markets still on risk-off mode, USD/CHF recorded its fourth day of gains, rising 15 pips to end at .9649. 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!
