Daily Forex Fundamentals – August 6, 2013

What’s on the Economic Horizon

German Factory Orders Predicted to Rise 1.1%
U.K. Manufacturing Production to Turn Positive?
RBA Expected to Maintain Rates at 2.50%

U.S. Dollar (USD)

The Greenback started the week on the wrong side of the charts as it fell against most of its counterparts. USD/CHF and USD/JPY registered losses and GBP/USD gained ground, but EUR/USD still slipped by 27 pips. What’s up with that?! Read more…

Euro (EUR)

Despite positive data from the euro zone, EUR/USD was unable to find support yesterday. The pair had begun the day at 1.3276, went as low as 1.32312, before it ended the U.S. trading session at 1.3257. Read more…

British Pound (GBP)

Cable does it again! GBP/USD ended another day in the green, as the pair started at 1.5287 then closed at 1.5356. GBP/JPY, on the other hand, didn’t do so well since it finished up with a loss at 150.86. Read more…

Japanese Yen (JPY)

Was that domination or what? The yen triple roundhouse kicked most of its counterparts yesterday as USD/JPY, EUR/JPY, GBP/JPY, and even AUD/JPY all bowed to the yen’s strength. What exactly brought that on? Read more…

Canadian Dollar (CAD)

Enough is enough! After a terrible performance last week, the Loonie bulls decided that it was time to show some muscle in the foreign exchange market. USD/CAD might have begun Monday at 1.0387 but it ended the day at 1.0357. That’s a respectable 30-pip victory for the Loonie bulls even though Canadian banks were out on holiday! Read more…

Australian Dollar (AUD)

The Aussie was all over the charts yesterday as weak Australian data got mixed in with reactions to a major US report. AUD/USD touched an intraday low 77 pips below its open price before capping the day with a 3-pip win while AUD/JPY, GBP/AUD, and EUR/AUD all showed Aussie weakness. Read more…

New Zealand Dollar (NZD)

NZD/USD gapped down over the weekend, but this gap was quickly filled as the pair jumped to a high of .7864 before closing at .7836. Was that just a pullback or is NZD/USD gearing up for a strong rally? Read more…

Swiss Franc (CHF)

Rally and reverse! USD/CHF couldn’t make up its mind in yesterday’s trading, as the pair shot up to a high of .9333 before turning around and falling back to close at .9275. What was that all about? Read more…

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Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!