Daily Forex Fundamentals – August 2, 2013

What’s on the Economic Horizon

US Dollar Dominated the Charts, NFP Report Eyed
UK Construction PMI on Tap

U.S. Dollar (USD)

Dollar is still king of the hill! The Greenback showed its dominance in yesterday’s trading, pushing EUR/USD down to the 1.3200 area and USD/JPY above the 99.00 mark. Can it be able to hold on to its gains this NFP Friday? Read more…

Euro (EUR)

Where to, euro? Thanks to an onslaught of tier 1 economic events, the common currency had trouble establishing a clear direction against its counterparts yesterday. EUR/USD and EUR/GBP both saw losses while EUR/JPY and EUR/CHF saw significant gains. Read more…

British Pound (GBP)

The upside surprise in the manufacturing PMI was powerless to stop traders from selling the pound. With the BOE keeping its monetary policy unchanged, GBP/USD had difficulty finding buyers as it slipped from 1.5213 to 1.5118. Read more…

Japanese Yen (JPY)

Poor guy! The yen was bullied into giving up its lunch money to its major counterparts, as USD/JPY jumped above the 99.00 mark while EUR/JPY climbed by roughly 150 pips. Will the yen have a chance to fight back today? Read more…

Canadian Dollar (CAD)

What goes up must come down! Unfortunately, the Loonie didn’t just come down. It crashed and burned against the Greenback like there was no tomorrow! What the heck happened?! Read more…

Australian Dollar (AUD)

Down but not out! The Australian dollar put up a strong fight against the U.S. dollar in yesterday’s trading, as AUD/USD struggled to stay above the .8900 handle. AUD/JPY, on the other hand, was able to score a few gains when it tapped the 89.00 mark. Read more…

New Zealand Dollar (NZD)

NZD/USD traded 113 pips deeper into bear territory as the comdoll had difficulty competing against the Greenback. With strong U.S. data propelling price lower, NZD/USD traded straight down and finished at .7874. Read more…

Swiss Franc (CHF)

Looks like the Swissy was caught snoozing yesterday! It lost massive pippage against the dollar as Switzerland celebrated a banking holiday. USD/CHF rose 114 pips to land at .9368. 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!