Daily Forex Fundamentals – August 30, 2013

What’s on the Economic Horizon

German retail sales to disappoint?
Canadian monthly GDP to show 0.4% contraction
U.S. PCE core price index due today

U.S. Dollar (USD)

Back-to-back, baby! For the second day in a row, the Greenback showed the markets who’s king of pips as EUR/USD, GBP/USD, and USD/CHF all showed dollar strength. What the heck brought this on?! Read more…

Euro (EUR)

Make that two in a row! EUR/USD chalked up consecutive losing days, as the pair dipped to a low of 1.3218 yesterday. EUR/JPY, on the other hand, was stuck in consolidation above the 130.00 handle. Read more…

British Pound (GBP)

Make that three in a row! Once again, GBP/USD closed lower on the day, as it finished at 1.5508, 22 pips below its opening price. Now that it is approaching a key support line though, will we see the bulls come charging back? Read more…

Japanese Yen (JPY)

SPLAT! Except against the euro, the yen fell against its higher-yielding counterparts as appetite for risk improved. USD/JPY, GBP/JPY, and AUD/JPY showed gains while EUR/JPY ended the day in the red due to weak euro zone reports. Read more…

Canadian Dollar (CAD)

Ooh, that’s gotta burn! The Loonie was no match to U.S. dollar strength in yesterday’s trading, as USD/CAD surged to a high of 1.0537. Will the Canadian dollar have a chance to recover today? Read more…

Australian Dollar (AUD)

The comdolls had another difficult day yesterday. AUD/USD finished the day 8 pips lower than its open price after climbing to an intraday high at .8980. Did the easing of Syrian tensions even help the Aussie? Read more…

New Zealand Dollar (NZD)

Another day of choppy trading for NZD/USD, as it was simply all over the place. By the end of the New York session, NZD/USD was trading at .7774, just 17 pips lower for the day. Read more…

Swiss Franc (CHF)

Ka-chow! The franc got blindsided in yesterday as the dollar staged a massive rally, leaving USD/CHF to finish at .9309, up a solid 89 pips from its opening price. 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!