What’s on the Economic Horizon
ISM Manufacturing PMI on the Docket
U.K. Construction PMI to Fall to 50.1 from 50.9
RBA Predicted to Keep Rates at 3.50%
U.S. Dollar (USD)
The safe haven Greenback struggled to remain afloat yesterday as Bernanke’s Jackson Hole QE message lingered in the market. The U.S. dollar index, which tracks the performance of the currency versus other majors, fell slightly to 81.66 from 81.70. Read more…
Euro (EUR)
Super Mario does it again! While traders were still processing the weak PMI reports from the euro zone, Mario Draghi’s said a comment or two that boosted EUR/USD by another 28 pips. What the heck did Draghi say? Read more…
British Pound (GBP)
Chop, chop, chop! Cable spiked here and there yesterday but managed to end in the green at 1.5890. Guppy, on the other hand, suffered a tiny loss as it closed 6 pips below its 124.44 open price. Read more…
Japanese Yen (JPY)
Due to the absence of market-moving events, the yen lacked direction yesterday and simply moved within a relatively tight range. It topped out at 78.41 and found a bottom at 78.20. Read more…
Canadian Dollar (CAD)
With Canada enjoying a Labor Day holiday, USD/CAD’s price action was limited to a 30-pip range. The tug-o-pip eventually ended with the pair closing 19 pips lower than its open price. What’s in store for the Loonie today? Read more…
Australian Dollar (AUD)
What a terrible day it was for AUD/USD yesterday. Not only did the pair start the week with a huge 51-pip gap down, but it was also weighed down heavily by the poor results of the retail sales report. AUD/USD closed the U.S. trading session at 1.0250, 32 pips lower from its opening price. Read more…
New Zealand Dollar (NZD)
Kiwi gapped down over the weekend and continued to slide down the charts on Monday, causing NZD/USD to close at .7974, 34 pips down from its .8008 open price. Will it have a chance to bounce back today? Read more…
Swiss Franc (CHF)
Despite weaker than expected data from Switzerland, the Swiss franc was able to keep its head up during the London session and even end the US session with a tiny gain against the Greenback. USD/CHF closed at .9536, 22 pips down from its .9558 open price. 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!
