What’s on the Economic Horizon
U.S. Q2 GDP Revised Lower
Spain Passes Budget Plan
U.K Q2 GDP Only Contracted by 0.4%
U.S. Dollar (USD)
What do you get when risk appetite is coupled with weak U.S. data? A weak U.S. dollar! The Greenback got clobbered by its counterparts yesterday as EUR/USD climbed by 48 pips to 1.2912 while Cable also enjoyed a 75-pip rally. Read more…
Euro (EUR)
It looks like Spain’s budget got the thumbs up from the markets! Impressed by the country’s plans, traders bought up the euro, sending EUR/USD 48 pips higher. The pair staged its rally towards the end of the day to end at 1.2912. Read more…
British Pound (GBP)
Way to go, little one! After consolidating for most of the day, the pound managed to sneak in a few gains against the U.S. dollar and the Japanese yen. GBP/USD ended the day 36 pips above the 1.6200 handle while GBP/JPY closed 2 pips above the 126.00 mark. Read more…
Japanese Yen (JPY)
With the return of risk appetite in the markets yesterday, the yen’s winning streak against its higher-yielding counterparts was cut short as it lost ground to the euro, pound, and Aussie. Against the Greenback though, the yen was still able to catch some gains as USD/JPY closed 11 pips down from its 77.72 open price. Read more…
Canadian Dollar (CAD)
For the first time in four days, Loonie bulls were able to take control of USD/CAD. Thanks to improved risk appetite, traders gobbled up the Canadian currency, sending USD/CAD down 45 pips to completely erase the previous day’s losses and end the day at .9808. Read more…
Australian Dollar (AUD)
The forex gods smiled upon the Aussie yesterday as demand for the high-yielding currency was strong and healthy. Within 24 hours, it was able to undo almost 3 whole days’ worth of losses as AUD/USD climbed 84 pips to end at 1.0444. Read more…
New Zealand Dollar (NZD)
Thanks to the return of risk appetite, the Kiwi had quite a good run yesterday as NZD/USD rallied beyond the .8300 handle and closed at .8317. The question is, will it be able to hold on to its gains and go for more? Read more…
Swiss Franc (CHF)
Let’s go, Swissy, let’s go! The Swiss franc was able to take advantage of the rebound in risk-taking yesterday as USD/CHF found resistance at the .9400 area and slid down to a low of .9361. The pair closed at .9374 at the end of the U.S. session. Read more…
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Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!
