Daily Forex Fundamentals – August 8, 2013

What’s on the Economic Horizon

EUR Trade Balance Figures on Tap
AUD Employment Ticks Lower

U.S. Dollar (USD)

Wednesday just was not the dollar’s day. No economic reports were released and there were even a few Fed officials who hinted that tapering would happen sooner rather than later. But still, these were not enough. The dollar finished the day lower against all of its major counterparts. What the heck happened?? Read more…

Euro (EUR)

Mixed results for the euro, as it surged past the dollar but took some hits against the pound and yen. This just goes to show that demand for the shared currency isn’t as strong as one would have thought had he only had a glimpse at EUR/USD. Read more…

British Pound (GBP)

Up, up, and away! Thanks to Carney’s inflation report, Cable was able to stage a magnificent performance yesterday. The pair ended the day at 1.5494, a solid 147 pips higher from where it had begun during the Asian session. Read more…

Japanese Yen (JPY)

The yen was as strong as my homeboy Cyclopip in yesterday’s trading as it powered through the charts. USD/JPY was down at 96.44 from 97.74 by the end of the New York session. Meanwhile, EUR/JPY was down a whopping 154 pips by the end of the day. Read more…

Canadian Dollar (CAD)

Thanks to some rather poor economic data, the Canadian dollar took a beating against the Greenback. USD/CAD rose over 50 pips to finish the day at 1.0420, its highest close since mid July. Could this be a sign of more losses to come for the Canadian dollar? Read more…

Australian Dollar (AUD)

After selling off strongly in the Tokyo session, dropping to an intraday low of .8919, AUD/USD surged higher during the New York session. In fact, the rally in the Aussie was more than enough to erase its earlier losses to close the day with a 6-pip gain at .8992. What a comeback! Read more…

New Zealand Dollar (NZD)

Despite the weaker-than-expected employment data, for the third consecutive trading day yesterday, the Kiwi triumphed over the Greenback. It appears that the Kiwi gained, not because of bullishness towards it, but rather because of dollar weakness. NZD/USD began the day at .7900 and ended the U.S. trading session 61 pips higher at .7961. Read more…

Swiss Franc (CHF)

Like its fellow European currencies, the Swiss franc managed to bully the U.S. dollar into submission yesterday. For the fourth straight day, USD/CHF sold-off, ending the day 40 pips lower from where it had been at the beginning of the Asian trading session. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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