What’s on the Economic Horizon
Japan’s Q1 2012 GDP Upwardly Revised to 1.2%
Fed Chairman Bernanke Not Worried About Disappointing NFP
No Hike in Asset Purchases from the BOE
PBOC Cut Interest Rates Again
U.S. Dollar (USD)
Big Ben’s not-so-dovish remarks allowed the dollar to get big boy bites of pips from its counterparts yesterday. EUR/USD ended the day 13 pips below its opening price at 1.2565. Meanwhile, USD/JPY was up 34 pips at 79.60 by the day’s close. Read more…
Euro (EUR)
The euro was uplifted yesterday as China announced that it had decided to cut its benchmark interest rates by 25 basis points. Unfortunately, the move proved to be unsustainable, as Federal Reserve Chairman Ben Bernanke did not affirm the need for further easing in a speech that he made late in the trading day. Read more…
British Pound (GBP)
Make that back-to-back baby! For the first time in over ten trading days, the pound registered consecutive victories versus the dollar. After hitting an intraday low at 1.5430, GBP/USD soared to as high as 1.5601 before settling at 1.5530, marking a 26-pip win. Read more…
Japanese Yen (JPY)
Thursday was a terrible day for the yen as it lost ground to most of its major counterparts. EUR/JPY ended the day 33 pips above its opening price. Meanwhile, USD/JPY traded higher and closed the day with a 34-pip gain. Read more…
Canadian Dollar (CAD)
Is that a doji on USD/CAD’s daily chart I see? Why, yes it is! The shifting market sentiment caused USD/CAD to move all over the place yesterday! At first, USD/CAD fell, as China announced that it would be cutting rates by 25 basis points. Read more…
Australian Dollar (AUD)
Yikes! Despite a stellar jobs report from Australia, AUD/USD still ended the day lower. The pair was able to rally early on in the day and test parity, but come the New York session, it got sold off and closed 27 pips below its opening price at .9900. Read more…
New Zealand Dollar (NZD)
Just when it looked like the Kiwi was gonna soar to new highs, it came crashing down late in the New York session yesterday. NZD/USD hit a high at .7754 but soon came tumbling down, giving up all its gains to finish at .7682, marking a 19 pips loss for the day. Read more…
Swiss Franc (CHF)
Now, that’s what I call a comeback! After giving up some ground to the dollar on Tuesday, the Swiss franc erased all of its losses against the dollar yesterday. USD/CHF closed the day 100 pips below its opening price at .9543. 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!
