Forex Signals » July

Geneva Forex Event – July 2011 Winner: Marek Maciejewski

admin — Sun, 04 Sep 2011 17:32:04 +0000

Geneva’s Trader of the Month for July 2011 was Marek Maciejewski who doesn’t reveal too much in the interview about his trading strategy (not that he needs to).

However, from reading between the lines it seems he trades the currency market using fundamental analysis and analyses how the market reacts to news based upon the figures or consensus of the release. Considering also the quantity of trades he undertook in the month (~660!) if Marek trades these high volatility announcements he may be using strategies such as opening positions in both directions.

Personally, I didn’t like the 200-pip drawdown he was experiencing or the 20% money management exposure, but I did find one encouraging factor in his interview and that was his tentatively involvement in the forex market for over 2 years where he found his edge.

Well done Marek and we wish him all the best!

Monetary Policy Week in Review – 30 July 2011

admin — Sat, 30 Jul 2011 03:11:35 +0000

Article by CentralBankNews.info

The week in monetary policy saw 8 central banks announcing interest rate decisions. Of those that changed rates were: India +50bps to 8.00%, Nigeria +75bps to 8.75%, and Colombia +25bps to 4.50%. Meanwhile those that held monetary policy interest rates unchanged were: Israel 3.25%, Hungary 6.00%, New Zealand 2.50%, Kenya 6.25%, and the Philippines 4.50%. Other than interest rates, the Philippines raised its required reserve ratio by 100 basis points to 21%, and Turkey dropped its required reserve ratios by 100-200bps to add extra liquidity to the market.

In terms of themes, the week was very much dominated by emerging market central bank activity. India surprised the market by raising rates more than expected in response to a persistent inflation threat against the backdrop of still relatively strong economic growth. Indeed the message was that emerging markets are still facing elevated price levels and inflationary impulse, and many of them are still recording relatively high rates of growth, particularly as compared to developed markets.

A selection of key quotes from the monetary policy statements and media releases are listed below:

Bank of Israel (held rate at 3.25%): “Forecasters’ inflation expectations for the next twelve months remained steady at slightly below the upper limit of the target range. Forecasters’ inflation expectations and those derived from the capital market go together with the assessment that the Bank of Israel will continue to increase the interest rate, but at a slower pace than in the first half of the year.”
Reserve Bank of India (increased 50bps to 8.00%): “Considering the overall growth and inflation scenario, there is a need to persevere with the anti-inflationary stance,”.
Central Bank of Nigeria (increased 75bps to 8.75%): ”The inflation outlook appears uncertain owing to the expected implementation of the new national minimum wage policy and the imminent deregulation of petroleum products,” and that there is “the need for pursuing policies to foster macro- economic stability, economic diversification as well as encouraging foreign capital inflows”.
Reserve Bank of New Zealand (held rate at 2.50%): “Provided current global financial risks recede and the economy continues to recover, the Bank sees little need for the March 2011 ‘insurance’ cut to remain in place much longer. The current very high value of the New Zealand dollar is acting as a drag on the New Zealand economy. If this persists, it is likely to reduce the need for further OCR increases in the short term.”
Philippine Central Bank (held rate at 4.50%): “bank lending has been growing at double-digit rates since January 2011, supported by the strong momentum of domestic economic activity and stable financial conditions… The Monetary Board is of the view that sustained foreign exchange inflows, driven by upbeat market sentiment over the brighter prospects for the Philippine economy, could fuel a further acceleration of domestic liquidity growth which could pose risks to future inflation.”
Central Bank of Colombia (raised rate 25bps to 4.50%): ”Since March, the average measures of core inflation has been a slight upward trend in June and reached a level close to the midpoint of the target range (3% + / – 1 percentage point). Inflation expectations at various horizons are also within that range.”

Looking to the central bank calendar, next week is set to be dominated by developed market or advanced economy central bank activity (note, the US also meets early in the following week). So it will be an interesting week in terms of how these banks react to whatever happens with the US debt situation…

AUD – Australia (Reserve Bank of Australia) – expected to hold at 4.75% on the 2nd of August
GBP – UK (Bank of England) – expected to hold at 0.50% on the 4th of August
CZK – Czech Republic (Czech National Bank) – expected to hold at 0.75% on the 4th of August
EUR – Eurozone (European Central Bank) – expected to hold at 1.50% on the 4th of August
JPY – Japan (Bank of Japan) – expected to hold at 0.10% on the 5th of August

Source: www.CentralBankNews.info

Article source:

Daily Forex Fundamentals – July 29, 2011

admin — Sat, 30 Jul 2011 01:33:26 +0000

What’s on the Economic Horizon
Boehner Bill vote postponed
Canadian GDP to show 0.1% uptick for May
House prices in U.K. dipped by 0.1% this month?

U.S. Dollar (USD)

Is the U.S. dollar selloff over? The Greenback managed to score some wins against the Aussie, Loonie, and euro but lost a bit of ground against the Kiwi, Swissy, yen, and pound. Will we see more mixed results today or can the U.S. dollar find a clearer direction? Read more…

Euro (EUR)

It was just one of THOSE days for the euro. Once again, it came under selling pressure as weak economic data and European debt concerns bogged down the shared currency. While EUR/USD slid 65 pips, EUR/JPY fell 84 pips, finding support at the 111.00 handle. Read more…

British Pound (GBP)

You know what they say about outrunning a lion – you only gotta outrun the person next to you! And that’s exactly what the pound’s been doing! With everyone souring on the euro zone and the U.S., GBP/USD managed to edge 10 pips higher from its opening price to end the day at 1.6346. Read more…

Japanese Yen (JPY)

Thanks to risk aversion, the Japanese yen was able to chalk up gains against its major counterparts yesterday. USD/JPY opened at the 78.00 handle but ended at 77.77 while EUR/JPY slid from its 112.10 open to close at 111.26. Read more…

Canadian Dollar (CAD)

Make that back-to-back! For the second day in a row, the Loonie took a hit as a cloud of risk aversion continued to hang over the markets. Will we get a silver lining today? Read more…

Australian Dollar (AUD)

You can’t win ‘em all, can you? The Aussie was forced to end its 7-day winning streak against the Greenback yesterday as AUD/USD closed 35 pips below its 1.1018 open price. AUD/JPY also chalked up a loss as it closed 60 pips below the 85.00 handle. Let’s take a look at the upcoming data to see whether the Aussie can rebound today. Read more…

New Zealand Dollar (NZD)

Oooohhhhh baby, it’s starting to look like the Kiwi has run out of steam! For the second day in a row, NZD/USD failed to sail higher, as it closed right at its opening price of .8692. Is this the top for the Kiwi? Read more…

Swiss Franc (CHF)

Looks like that .8000 handle is too much for the Swissy to break through! Once again, USD/CHF found good support at the major psychological handle and has now formed TWO dojis on daily chart at the level. Is this the bottom for the Swissy? 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!

Currently 5/5
1
2
3
4
5

Rating: 5/5 (5 votes cast)

Daily Forex Fundamentals – July 28, 2011

admin — Fri, 29 Jul 2011 01:28:43 +0000

What’s on the Economic Horizon

Weekly Jobless Claims and Pending Home Sales on Tap
Will the German Jobs report Boost the euro?
Japanese CPI, Household Spending Coming Up
New Zealand Building Consents Data on Deck

U.S. Dollar (USD)

It seems like risk aversion is the only thing that can save the dollar nowadays! With the markets getting a little jittery, the dollar was able to post small gains in yesterdays trading. The scrilla ticked higher against its major counterparts, but with legislators nowhere closer to a new debt ceiling deal, could the dollar be prone to weakness the rest of the week? Read more…

Euro (EUR)

Geronimoooo! The euro plunged in the charts yesterday as risk aversion swept the markets and sent higher-yielding currencies lower. EUR/USD closed 141 pips lower at 1.4374 while EUR/JPY ended the day down to 112.11 from its opening price of 113.09. Read more…

British Pound (GBP)

Just when you thought it’d be clear skies ahead for the pound, out come pound bears to drag the currency down! With weak U.K. data and dovish BOE statements working for them, they pulled GBP/USD 76 pips lower. Is this a reversal in the works? Read more…

Japanese Yen (JPY)

With risk aversion taking over the markets, the yen reigned supreme in yesterday’s pip wrestling matches. USD/JPY continued to trickle down the charts, hitting a new low at 77.56 before closing at 78.00. Meanwhile, EUR/JPY dropped nearly 100 pips before finishing at 112.11. Read more…

Canadian Dollar (CAD)

Boo! Risk aversion reared its ugly head back into the markets yesterday and scared investors out of higher-yielding currencies such as the Loonie. USD/CAD ended the day 60 pips higher at .9489 after it failed to trade below support at .9430. Read more…

Australian Dollar (AUD)

King of the Hill baby! On the strength of strong CPI figures, the Australian dollar soared higher yesterday despite the run of risk aversion that weighed down other higher yielding currencies. The Aussie set a new all-time high at 1.1081 before settling at 1.1019, marking a 58 pip gain for the day. Read more…

New Zealand Dollar (NZD)

A good start, but a poor finish was what we got from the Kiwi yesterday! A strong reading from the NBNZ business confidence lifted it up in the Tokyo session, but NZD/USD eventually gave up all of its gains late in the New York session. What can we expect today? Read more…

Swiss Franc (CHF)

Mixed results for the Swissy as sellers pulled it this way and buyers pulled it that way. While traders bought it up against the euro, they weren’t as eager to do the same against the dollar… at least not with USD/CHF facing strong support at 0.8000! 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!

Currently 5/5
1
2
3
4
5

Rating: 5/5 (1 votes cast)

Daily Forex Fundamentals – July 27, 2011

admin — Thu, 28 Jul 2011 01:29:03 +0000

What’s on the Economic Horizon
Obama frustrated with U.S. debt talks
RBNZ to keep rates on hold at 2.50%
Swiss KOF economic barometer to dip this month

U.S. Dollar (USD)

Argh! The Greenback must be getting really frustrated by the lack of progress on the U.S. debt talks because it ended up losing against its major counterparts again. USDX breached the 74.00 handle and closed at 72.96 as other major currencies reached all-time highs against the U.S. dollar. How much further can it fall? Read more…

Euro (EUR)

No news is good news! Well, at least for the euro it was! Without any new updates on the Europeans debt crisis to worry investors, the euro was able to stage a relief rally against its major counterparts. EUR/USD rose 144 pips to climb above the 1.4500 handle while EUR/JPY gained 56 pips to finish above 113.00. Read more…

British Pound (GBP)

Ain’t no thang but a chicken wing! On the strength of relatively decent economic data, Cable soared to its highest level in 6 weeks, gaining 124 pips to finish at 1.6414. Can the pound continue to dominate or is a midweek reversal in play? Read more…

Japanese Yen (JPY)

The Japanese yen chalked up losses against most of its major counterparts, except for the U.S. dollar. EUR/JPY ended 56 pips up from its 112.53 open price while AUD/JPY landed 40 pips above the 85.00 psychological handle. USD/JPY, on the other hand, fell to a new low at 77.83. Read more…

Canadian Dollar (CAD)

And just like that, the Loonie’s at a new three-year high! The Canadian currency had its way with the Greenback yesterday as U.S. debt ceiling concerns dragged USD/CAD down. The pair finished 32 pips lower, hitting levels untouched since November 2007. How long can it keep this up? Read more…

Australian Dollar (AUD)

Up, up, here we go! The Aussie continued to take advantage of U.S. dollar weakness as AUD/USD reached a high of 1.0967 yesterday. AUD/JPY also strengthened as it closed 40 pips above the 85.00 handle. Read more…

New Zealand Dollar (NZD)

Ain’t no thang but a Kiwi wing! For the 6th consecutive day, NZD/USD closed higher, as the pair closed another 50 pips higher at .8716. Is there no stopping the mighty Kiwi? Read more…

Swiss Franc (CHF)

The Swiss franc continued its dominance of the charts, setting yet another all-time high versus the dollar. USD/CHF is now just above the .8000 handle. To put things in perspective, the pair has now dropped 1300 pips from its opening price this year! Ka-chow!!! 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!

Currently 5/5
1
2
3
4
5

Rating: 5/5 (2 votes cast)

Daily Forex Fundamentals – July 26, 2011

admin — Wed, 27 Jul 2011 01:29:23 +0000

What’s on the Economic Horizon

U.S. CB Consumer Confidence Trending Lower?
U.K. GDP Growth To Soften To 0.2%
German Consumer Climate To Weaken in July

U.S. Dollar (USD)

Relatively quiet day in the markets, as we saw a repeat of Friday’s consolidation. EUR/USD stayed within range and closed at 1.4370, down just 14 pips for the day. However, USD/CHF shot down to finish at an all-time low at .8056. Could we see more dollar weakness in the days ahead? Read more…

Euro (EUR)

Ho hum, the euro simply moved sideways against the U.S. dollar and the Japanese yen yesterday. EUR/USD ended slightly down from its 1.4384 open price while EUR/JPY chalked up a tiny 10-pip gain from its 112.43 open. Let’s take a look at today’s set of reports to see whether the euro can find a clearer direction or not. Read more…

British Pound (GBP)

It was a relatively dull day for the pound as it traded flatly against the dollar and the euro. Are pound traders merely saving energy for today’s big GDP report? Read more…

Japanese Yen (JPY)

With no big catalyst to rock the market, yen pairs pretty much went into Zen mode. GBP/JPY, EUR/JPY, and USD/JPY all pretty much consolidated and closed near their openings prices. Will we see a breakout soon? Read more…

Canadian Dollar (CAD)

Hooray for the Loonie! After losing ground to the U.S. dollar last Friday, the Canadian currency was able to rebound from its losses as USD/CAD closed almost 30 pips below its .9484 open price. Can it go for more gains today? Read more…

Australian Dollar (AUD)

Don’t you just love it when resistance becomes support? After breaking through the 1.0800 level last week, AUD/USD retraced a bit yesterday, only to find support at the psychological level. The pair eventually closed at 1.0847, gaining 8 pips on the day. Read more…

New Zealand Dollar (NZD)

“I can get used to this!” said the Kiwi as it hung above the .8600 handle against the Greenback. Despite weak trade balance data, the Kiwi was able to trade comfortably in the area of its new all-time highs. Can it keep this up? Read more…

Swiss Franc (CHF)

Outta the way, Swissy coming through! With a lot of uncertainty still hanging in the air regarding the U.S. and Europe, the Swiss franc remained the currency of choice of many traders. USD/CHF ended the day at a NEW ALL-TIME LOW of .8061 after falling 45 pips. 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!

Currently 4.8/5
1
2
3
4
5

Rating: 4.8/5 (4 votes cast)

Daily Forex Fundamentals – July 25, 2011

admin — Tue, 26 Jul 2011 01:41:01 +0000

What’s on the Economic Horizon

Australian PPI on tap today
New Zealand trade surplus to shrink?
U.K. mortgage approvals expected to rise

U.S. Dollar (USD)

Zzz… Price action on the dollar was about as exciting as watching paint dry! It seems the big moves on the dollar last Thursday had markets too exhausted to move on Friday as the dollar traded within tight ranges and ended the day hardly changed. Read more…

Euro (EUR)

After Thursday’s wild events, Friday was much more subdued for the euro. Euro pairs pretty much stayed in range, as a “selective default” didn’t exactly weigh down the shared currency. EUR/USD finished just 10 pips lower on the day, closing at 1.4368, while EUR/JPY finished at 112.70, down just 7 pips from its opening price. Read more…

British Pound (GBP)

It’s a stalemate, folks! After a day of scoring wins against its rivals, the British pound ended unchanged against the U.S. dollar and the Japanese yen on Friday. GBP/USD closed right at the 1.6300 handle while GPB/JPY landed at 127.85. Can the pound push for more gains this week? Read more…

Japanese Yen (JPY)

Even the yen wasn’t spared from the snoozefest last Friday! Yen pairs were practically dead as USD/JPY ended the day unchanged and EUR/JPY dropped just 7 pips. Read more…

Canadian Dollar (CAD)

The Canadian dollar bookmarked the week with a loss, as inflation data came in surprisingly week. USD/CAD bounced off key support at .9450, and closed 37 pips higher for the day at .9454. Could this be a potential bottom for the Loonie? Read more…

Australian Dollar (AUD)

Aussie chillin’ at a new two-month high! After finally breaking above resistance at 1.0800 last Thursday, AUD/USD took a well-deserved breather on Friday, rising just 17 pips for the day. Read more…

New Zealand Dollar (NZD)

Did you catch that Kiwi move last Friday? NZD/USD reached another new record high! The pair rallied past the .8600 level that day and topped at .8675 before closing at .8643. Will we see more highs from the Kiwi this week? Read more…

Swiss Franc (CHF)

Ouch! The Swissy took a hit from both the U.S. dollar and the euro last Friday, as USD/CHF closed 10 pips up from its .8169 open price while EUR/CHF landed 2 pips above the 1.1750 level. These pairs gapped down over the weekend though, so let’s find out whether the Swissy could keep it going. Read more…

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!

Currently 5/5
1
2
3
4
5

Rating: 5/5 (2 votes cast)

Monetary Policy Week in Review – 23 July 2011

admin — Sat, 23 Jul 2011 03:10:05 +0000

Article by CentralBankNews.info

The past week in monetary policy was relatively quiet, with just five central banks announcing interest rate decisions. The only central bank to adjust rates was the Banco Central do Brasil, which increased its Selic rate by 25 basis points to 12.50%. The other banks that held rates unchanged were: Canada at 1.00%, South Africa at 5.50%, Turkey at 6.25%, and Egypt at 8.25%. Elsewhere in central banking, Taiwan’s central bank increased commercial bank minimum liquidity requirements as part of an ongoing program to strengthen risk management in the banking system.

So for the central banks that reviewed monetary policy settings it was very much a case of wait and see, with the banks largely viewing current settings as appropriate. Indeed if holding rates steady was the theme, the BRIC economy Brazil was consistent with this even though it increased rates, in that the Brazilian central bank slightly altered the tone of its statement; perhaps hinting that it is near the end of its tightening cycle. Another theme within this was strong vigilance of risks, particularly those emanating from the Euro area, with still high levels of uncertainty as to how the crisis will unfold.

Listed below are some of the key quotes from central bank monetary policy statements and media releases from the week ending 23 July 2011:

Bank of Canada (held interest rate at 1.00%): “To the extent that the expansion continues and the current material excess supply in the economy is gradually absorbed, some of the considerable monetary policy stimulus currently in place will be withdrawn, consistent with achieving the 2.0 percent inflation target. Such reduction would need to be carefully considered”.
Banco Central do Brasil (increased rate +25bps to 12.50%): “evaluating the prospective scenario and the balance of risks for inflation, the Copom decided, unanimously, at this moment, to raise the Selic rate to 12.50% p.a., with a neutral bias.”
South African Reserve Bank (held interest rate at 5.50%): ”The MPC is not complacent and will remain vigilant and continue to monitor closely any indications of second-round effects on inflation emanating from these cost pressures as well as the changing risk profile of the inflation outlook.”… ”The view of the MPC continues to be that the underlying inflation pressures are mainly of a cost push nature, notwithstanding signs of a possible moderate increase in underlying inflation.”
Central Bank of Turkey (held interest rate at 6.25%): “it would be appropriate to narrow the interest corridor gradually should the sovereign debt problems regarding some European economies and the concerns on global growth continue to have adverse impact on the risk appetite. The Committee has also stated that all policy instruments may be eased should global economic problems intensify and lead to a contraction in domestic economic activity.”
Central Bank of Egypt (held interest rate at 8.25%): “the slowdown in economic growth should limit upside risks to the inflation outlook. Given the balance of risks on the inflation and GDP outlooks and the increased uncertainty at this juncture, the MPC judges that the current key CBE rates are appropriate.”

Next week is set to be relatively busy in terms of monetary policy decisions, with at least 8 central banks scheduled to review policy settings. Many of the banks are in emerging market countries so it will be timely to get an update on what they are thinking about and concerned about:

ILS – Israel (Bank of Israel) – expected to hold at 3.25% on the 25th of July
HUF – Hungary (Magyar Nemzeti Bank) – expected to hold at 6.00% on the 26th of July
INR – India (Reserve Bank of India) – may increase rate 25bps to 7.75% on the 26th of July
NGN – Nigeria (Central Bank of Nigeria) – may increase rate 50bps to 8.50% on the 26th of July
KES – Kenya (Central Bank of Kenya) – expected to hold at 6.25% on the 27th of July
NZD – New Zealand (RBNZ) – expected to hold at 2.50% on the 28th of July
PHP – Philippines (Bankgo Sentral ng Pilipinas) – expected to hold at 4.50% on the 28th of July
PKR – Pakistan (State Bank of Pakistan) – expected to hold at 14.00% on the 30th of July

Source: www.CentralBankNews.info

Article source:

Daily Forex Fundamentals – July 22, 2011

admin — Sat, 23 Jul 2011 01:27:59 +0000

What’s on the Economic Horizon

Canadian CPI and Retail Sales in Focus Today
German Ifo Business Climate Survey To Fall Slightly to 113.7
Still No Solution to U.S. Debt Ceiling Woes

U.S. Dollar (USD)

Is time running out for the U.S. to pass a new debt ceiling proposal? The markets seem to think so! With debt concerns still weighing heavily in the markets, the dollar found itself on the losing end yesterday. EUR/USD finished 162 pips higher at 1.4378 , while USD/JPY closed at 78.44, its lowest level in four months. Read more…

Euro (EUR)

Talk about a strong case of market optimism! EUR/USD managed to stage a magnificent rally in yesterday’s trading session after euro zone leaders finally agreed on a plan to bail out the debt-ridden Greece. From its intraday low at 1.4138, EUR/USD soared to close the day strongly at 1.4378. Read more…

British Pound (GBP)

It’s all good in the hood for the pound! Not only did it get a boost from risk appetite, but it was also lifted by awesome retail sales data. Needless to say, pound bulls went nuts and carried GBP/USD 139 pips higher and GBP/JPY 58 pips higher. Read more…

Japanese Yen (JPY)

Mixed results for the yen yesterday, as it took advantage of broad USD weakness, but lost against all other majors as risk sentiment took a turn for the better yesterday. USD/JPY managed to close 32 pips to close at 78.44, while EUR/JPY rose a solid 75 pips to finish at 112.80. Read more…

Canadian Dollar (CAD)

Score another one for the Loonie! For the third straight day, the Loonie was able to edge higher versus the Greenback. USD/CAD closed the U.S. trading session at .9453, 21 pips lower from its opening price that day. Read more…

Australian Dollar (AUD)

And boom goes the dynamite! Just like that, AUD/USD broke through key resistance just below the 1.0800 handle. AUD/USD gained 90 pips on the day to close at 1.0833. Could the pair be headed for the 1.1000 mark? Read more…

New Zealand Dollar (NZD)

We should call the Kiwi the “Fresh Prince” by the way it posted fresh all-time highs yesterday! With risk appetite fueling its rise, NZD/USD managed to crawl into never-before-seen territory, climbing up to .8623 to post a 60-pip gain. More…

Swiss Franc (CHF)

Like kryptonite to Superman, the Swissy weakened against most of its counterparts at the sight of risk appetite. (That rhymes yo!) However, it was able to gain ground against the U.S. dollar, although we did see a few reports from Switzerland weren’t exactly Swissy-bullish. More…

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!

Currently 5/5
1
2
3
4
5

Rating: 5/5 (5 votes cast)

Daily Forex Fundamentals – July 21, 2011

admin — Fri, 22 Jul 2011 01:28:08 +0000

What’s on the Economic Horizon
European economic summit today
U.K. retail sales set to print 0.5% rise
U.S. Philly Fed manufacturing index to jump to 2.7?

U.S. Dollar (USD)

Risk appetite be killin’ the dollar yo! The American currency dropped amid weak existing home sales data and debt ceiling talks, posting losses against ALL of its major counterparts. Is it doomed to do the same today? Read more…

Euro (EUR)

And the euro zone debt saga continues! Expectations for a successful euro zone leaders’ meeting today gave the euro a lift yesterday, boosting EUR/USD 81 pips to 1.4226. Never mind that economic reports were also released from the region! Will we see another rally today? Read more…

British Pound (GBP)

“I get knocked down, but I get up again,” sang the pound as it had Tubthumping price action yesterday. GBP/USD dipped to a low of 1.6069, but managed to close 35 pips above its 1.6125 open price. GBP/JPY, on the other hand, struggled to stay above the 127.00 handle and managed to close at 127.28. Will the pound go on to sing “You’re never gonna keep me down” today? Read more…

Japanese Yen (JPY)

Hey hey hey! Don’t count the yen out just yet! After taking a hit on Tuesday, the Japanese currency was able to bounce back and post gains across the board. Against the dollar, it rose 54 pips, forcing USD/JPY to test its one-week old support level. Read more…

Canadian Dollar (CAD)

Back-to-back, baby! The Loonie powered on for the second day in a row yesterday when Canada’s positive economic reports jived with a surge of risk appetite in markets. USD/CAD even dropped to an intraday low of .9457 before settling with a 34-pip drop at .9474. Read more…

Australian Dollar (AUD)

A decline in leading indicators? Ain’t no thang to the Aussie, baby! In spite of a soft MI leading index reading, the Aussie was able to stage a decent rally against the dollar as AUD/USD climbed to the top of the range on its 4-hour chart. Is it all downhill from here?
Read more…

New Zealand Dollar (NZD)

Another new record for the Kiwi! NZD/USD reached a new record high at .8589 yesterday as the pair got a boost from risk appetite. How much higher can the Kiwi go? Read more…

Swiss Franc (CHF)

Mixed day for the Swissy yesterday as it managed to end higher than the U.S. dollar but held steady against the euro. USD/CHF landed at .8198, 51 pips below its .8249 open price, while EUR/CHF snapped back to its 1.1665 open. 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!

Currently 5/5
1
2
3
4
5

Rating: 5/5 (4 votes cast)