What’s on the Economic Horizon
Euro Zone PMIs Disappoint
U.S. Unemployment Claims Drop
U.K. Q1 2012 GDP Revised Down to -0.3%
U.S. Dollar (USD)
When risk aversion is in play, you can almost always be sure that the dollar will kick butt on the charts. In yesterday’s trading, Europe’s debt woes continued to dominate market headlines and highlighted the dollar’s safe haven status. Read more…
Euro (EUR)
And it’s strike three for the euro! No thanks to weak economic data and a disappointing speech from ECB’s Draghi, the euro continued its losing streak against its major counterparts. EUR/USD fell by another 68 pips to 1.2533, while EUR/GBP capped the day right at .8000. Read more…
British Pound (GBP)
A fresh round of risk aversion pushed the pound lower against the U.S. dollar and the Japanese yen as growth concerns dominated the airwaves yesterday. GBP/USD broke below the 1.5700 major psychological handle and closed at 1.5666 while GBP/JPY ended the day at 124.72. Are there more pound selloffs in store for today? Read more…
Japanese Yen (JPY)
Due to the lack of top-tier economic reports from Japan, the yen’s performance in yesterday’s trading was mixed. It scored a 39-pip win against the euro at 99.77 but gave up 11 pips to the dollar when USD/JPY closed higher at 79.60. Read more…
Canadian Dollar (CAD)
How long can 1.0300 hold? For the third day in a row the Loonie lost ground against the Greenback. USD/CAD shot up to an intraday high of 1.0296 before it capped the day with a 29-pip gain at 1.0271. Read more…
Australian Dollar (AUD)
Just like Jessica Sanchez, the Aussie came so close to celebrating a win yesterday but failed. AUD/USD traded around .9800 and .9750 all throughout the day’s trading. However, the comdoll fell short by 7 pips of ending the day with a win at .9763. Boo! Read more…
New Zealand Dollar (NZD)
Despite the dark clouds of risk aversion that loomed over the markets yesterday, the Kiwi was able to keep its head afloat as NZD/USD closed 6 pips up from its .7519 open price. The question is: Will this commodity currency be able to hold on to its gains today? Read more…
Swiss Franc (CHF)
If the Swiss franc had to pick a song to describe its movement yesterday, it’d have to be “Rumor Has It” by Adele. The Swiss currency suddenly sprang to action against the euro, with EUR/CHF breaking out of consolidation around 1.2010 and spiking to a high of 1.2078. Read on to find out about the latest SNB rumor. 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!
