Daily Forex Fundamentals – August 16, 2013

What’s on the Economic Horizon

Preliminary UoM Sentiment Survey to Print a Reading of 85.6
Euro Zone Inflation Figures on Deck

U.S. Dollar (USD)

Uh-oh, I think I smell trouble. Yesterday’s roster of economic data from the U.S. printed mixed figures and led to speculations that Septaper may be a bad idea. Consequently, they caused the dollar to tank against all of its major counterparts! Read more…

Euro (EUR)

Never count the euro out! Even though the currency miserably failed to hold its ground during the early morning U.S. session, it was able to recover its losses… and then gain even more. EUR/USD began the day at 1.3261, fell as low as 1.3205, and then closed at 1.3355. Read more…

British Pound (GBP)

Pound bulls, unite! The British currency raked in huge gains in yesterday’s trading, as GBP/USD surged above the 1.5600 handle while GBP/JPY jumped to a high of 153.22. Why was the pound so strong recently? Read more…

Japanese Yen (JPY)

Despite the lack of reports from Japan, the yen still kicked butt on the charts yesterday. USD/JPY was down at 97.24 by the end of the New York session, down 83 pips for the day. Meanwhile, EUR/JPY was at 130.04 after opening at 130.30. Read more…

Canadian Dollar (CAD)

Even though no reports were published in Canada, USD/CAD still experienced a whole lot of volatility due to the shifting market sentiment. The pair started off the day at 1.0328, fell to a 1.0304, and then suddenly shot up to 1.0365. By the end of the U.S. trading session, it was sitting at 1.0303. Read more…

Australian Dollar (AUD)

Talk about a topsy-turvy day! AUD/USD got a major wipeout just below .9200, dropping all the way down to .9258. But the Aussie managed to recover, paring its losses for the day and closing a pip above its opening price at .9139. Read more…

New Zealand Dollar (NZD)

Tubthumping was the theme song of NZD/USD’s trading yesterday, as the pair got knocked down to a low of .7994 then got up again to the .8050 area later on. What’s in store for the Kiwi today? Read more…

Swiss Franc (CHF)

Just when it seemed like the franc was in for another losing day, the Swiss currency cracked its knuckles and put up a strong fight against the dollar. USD/CHF edged 4 pips close to the .9400 handle before selling off and reaching the .9250 mark. 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!