Daily Forex Fundamentals – August 29, 2013

What’s on the Economic Horizon

German unemployment data to boost the EUR?
Inflation and unemployment data on tap from Japan

U.S. Dollar (USD)

Who’s your daddy? Despite the bad U.S. housing figures, the Greenback still managed to show the foreign exchange market who’s boss by reigning supreme over other big currencies. The U.S. dollar index that tracks the performance of the Greenback versus major currencies like the euro and the yen climbed to 81.90 from 81.61. Read more…

Euro (EUR)

Retreat, boys, retreat! 1.3400 was still a no-go for EUR/USD in yesterday’s trading. There was only enough demand for the pair to test the level but resistance held. By the end of the New York session, the pair was down 50 pips from its opening price at 1.3341. Read more…

British Pound (GBP)

I’m seeing red! The pound’s bleeding didn’t stop yesterday, as GBP/USD sank to a low of 1.5429 while GBP/JPY tumbled to the 151.00 area. Will it be able to recover today or will the selloff continue? 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)

Still no win for the Loonie on Wednesday. USD/CAD finished the day higher at 1.0484 after starting the day at 1.0474. Will today be different? Read more…

Australian Dollar (AUD)

The pain’s not over yet. After yesterday’s brief reprieve, the Aussie is back in the loser’s den, giving up a lot of ground to the dollar. AUD/USD started the day at .8990, fell to an intraday low at .8902, and then closed the day with a 49-pip lose at .8941. Read more…

New Zealand Dollar (NZD)

What a turnaround! Just when it seemed like NZD/USD was down in the dumps as it dipped a few pips below the .7750 minor psychological support, the pair bounced right back up to close above .7800. What was that all about? Read more…

Swiss Franc (CHF)

Yesterday wasn’t a good day to be a franc bull as the Swiss currency lost ground to both the dollar and the euro. USD/CHF found support at the .9180 area and jumped to a high of .9234 while EUR/CHF made an upside break from consolidation to close above 1.2300. 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!