Daily Forex Fundamentals – August 28, 2013

What’s on the Economic Horizon

U.S. Pending Home Sales Expected to Rise 0.2%
BOE Governor Mark Carney to Speak in Nottingham Today

U.S. Dollar (USD)

When traders are risk averse, the dollar rules! Higher-yielding currencies continued to slide down against the safe-haven Greenback, with EUR/USD dipping to a low of 1.3325 and GBP/USD falling below the 1.5500 mark. Read more…

Euro (EUR)

What a rollercoaster ride it was for EUR/USD yesterday! Although the pair dropped to an intraday low at 1.3322, it managed to pare its losses and stage a quick rally in the U.S. session to end the day with a decent 20-pip gain. Read more…

British Pound (GBP)

The pound didn’t escape the bloodbath that we witnessed all over the high-yielding currencies yesterday as the lack of U.S. reports made it easy for the bears to drag the pound lower against the Greenback, the yen, and even the euro. What gives?! Read more…

Japanese Yen (JPY)

What a massive rally! The lower-yielding Japanese yen took advantage of risk aversion in the markets, pushing USD/JPY down to the 97.00 handle and EUR/JPY below the 130.00 mark. Can the yen hold on to its gains today? Read more…

Canadian Dollar (CAD)

he Canadian dollar showed that it isn’t a pushover yesterday as it rallied strongly versus the U.S. dollar. The USD/CAD pair closed the day at 1.0474, 30 pips lower from where it opened during the Asian trading session. Read more…

Australian Dollar (AUD)

The Aussie got wiped out in yesterday’s trading, as AUD/USD tumbled below the .9000 major psychological support while AUD/JPY crashed below .8700. What’s up with that?! Read more…

New Zealand Dollar (NZD)

Ka-blam! The Kiwi bulls’ hopes were crushed to the ground when NZD/USD failed to follow up on its gains and ended another day in the red. The pair closed 53 pips lower than its open price after hitting an intraday low of .7765. Read more…

Swiss Franc (CHF)

The low-yielding currencies were kings of pips yesterday and the franc was no exception. USD/CHF, GBP/CHF, and EUR/CHF all showed losses despite the lack of reports from Switzerland. 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!