Daily Forex Fundamentals – August 27, 2013

What’s on the Economic Horizon

German IFO business climate index to rise to 107.1
U.S. consumer confidence expected to decline

U.S. Dollar (USD)

Up, up, and…nope! Just when the dollar was gaining momentum for a positive day, weak U.S. reports popped up and rained on its parade. How did that happen? Read more…

Euro (EUR)

What a snoozer! The euro’s price action on the charts was the complete opposite of ‘N Sync’s spectacular comeback performance at the VMAs. EUR/USD ended the day 12 pips lower at 1.3373 after trading within a 50-pip range. Meanwhile, EUR/JPY was down 18 pips at 131.62 by the New York session close. Read more…

British Pound (GBP)

Another slow day for Cable! The pair never traded more than 50 pips away from its opening price of 1.5570. After a spiking up slightly at the start of the New York session, price eventually settled at 1.5577. Read more…

Japanese Yen (JPY)

Wham, bam, thank you risk aversion! Thanks to the investors’ flight out of the emerging market currencies yesterday, demand for the low-yielding yen received a boost, enough for the yen to show small gains against the euro, pound, and the Aussie. Read more…

Canadian Dollar (CAD)

Thanks to the disappointing durable goods orders from the U.S., the Loonie was able to prevent the Greenback from making significant gains yesterday. After it opened the day at 1.0498 and hit a session high at 1.0535, USD/CAD fell to close the U.S. trading session at 1.0504. Read more…

Australian Dollar (AUD)

The Aussie landed firmly in the bears’ lair yesterday despite the lack of reports from Australia. AUD/USD lost 22 pips while GBP/AUD and EUR/AUD jumped by at least 50 pips. What’s up with that?! Read more…

New Zealand Dollar (NZD)

Will you look at that — there’s life left in the Kiwi after all! The comdoll was one of yesterday’s best performers as NZD/USD climbed 43 pips to break its 5-day slide. Read more…

Swiss Franc (CHF)

USD/CHF was off to a slow start to the week as the pair hardly budged from its opening price. After trading as high as .9248, it eventually chilled out and came to rest at .9223, locking in a 10-pip gain on the day. 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!