What’s on the Economic Horizon
Swiss GDP to print at 0.0%
Euro zone CPI seen at 2.5%
U.S. to publish doubleheader in ADP and GDP reports
U.S. Dollar (USD)
“Safety first!” said the markets as they bought up the safe haven dollar in yesterday’s trading. The American currency chalked up ridiculous gains against its higher-yielding counterparts and took EUR/USD 130 pips lower to a new 2012 low. Read more…
Euro (EUR)
The Spanish 10-year bond yields hit new highs at 6.7% yesterday, which resulted in wide-reaching case of risk aversion. As a result, EUR/USD continued to plummet into the abyss to mark a new year-to-date low at 1.2361. Read more…
British Pound (GBP)
And just like that, cable slips below 1.5600! The pound chalked up more than 150 pips’ worth of losses against the Greenback as GBP/USD closed at 1.5478. GBP/JPY also had its share of losses as it slipped almost 200 pips and ended at 122.43. Read more…
Japanese Yen (JPY)
Up, up, and awaaay! The yen was in high demand yesterday as risk aversion boosted the markets’ interest in safe haven currencies. EUR/JPY slid 154 pips to land at 97.84, while GBP/JPY fell 190 pips to 122.43. Hmm… We’ve heard this story before, haven’t we? Read more…
Canadian Dollar (CAD)
Et tu, Loonie? Even the Canadian dollar wasn’t spared from yesterday’s massive sell-off as risk aversion took USD/CAD back up the charts. The pair undid its recent slide to post a 63-pip gain and end at 1.0292. Read more…
Australian Dollar (AUD)
And just like that, the Aussie erased all of its recent gains! AUD/USD ended the day at a new 1-week low as risk aversion took its toll on the high-yielding currency. When all was said and done, the pair finished at .9717, 124 pips lower on the day. Read more…
New Zealand Dollar (NZD)
The Kiwi took a nasty dive down the charts yesterday as NZD/USD closed nearly a hundred pips down from its .7623 open price. The pair dipped to a low of .7530 before ending the day at .7536. Will it continue to fall today? Read more…
Swiss Franc (CHF)
Another day, another loss! The Swiss franc lost ground to the U.S. dollar for the seventh day in a row as USD/CHF jumped from its .9611 open price and closed at .9709. Will the Swiss franc extend its losing streak to eight days? 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!
