Daily Forex Fundamentals – August 9, 2013

What’s on the Economic Horizon

Canadian Employment Figures Priced In?
U.K. Trade Balance Data on Tap

U.S. Dollar (USD)

Without any economic data on tap, the dollar once again became vulnerable to market sentiment. Unfortunately for the Greenback, it finished yet another day in the bear lair! EUR/USD was up at 1.3386 after starting the day at 1.3338. Meanwhile, AUD/USD was up 119 pips by the day’s close. Read more…

Euro (EUR)

Taking advantage of yet another day of dollar weakness, the euro bulls pushed the shared currency to further gains yesterday. EUR/USD broke past its recent highs to test the 1.3400 handle before settling at 1.3380. Now that it’s approaching its June highs, what’s next for the euro? Read more…

British Pound (GBP)

That was a big one! GBP/USD caught a huge wave in yesterday’s trading as it cruised above the 1.5500 major psychological level and reached a high of 1.5572. Will it be able to go for more gains today? Read more…

Japanese Yen (JPY)

Where did the yen’s swag, go?! The Asian currency chalked up losses in yesterday’s trading. USD/JPY finished the day higher at 96.70 from its opening price of 96.44. Meanwhile, EUR/JPY was up 95 pips at 129.44 by the New York session close. Read more…

Canadian Dollar (CAD)

Talk about a comeback performance! A day after mucking up the charts, the Canadian dollar came storming back, with USD/CAD finishing nearly 100 pips lower at 1.0323. Can the Loonie bulls keep it up? Read more…

Australian Dollar (AUD)

Aussie, Aussie, oi, oi, oi! There was just no stopping the comdoll from extending its gains in yesterday’s trading. AUD/USD finished higher for the fourth consecutive day at .9110 from its opening price of .8991. Read more…

New Zealand Dollar (NZD)

The Kiwi may be a flightless bird but the Kiwi dollar sure wasn’t flightless at all in yesterday’s trading! NZD/USD soared back above the .8000 major psychological level and reached a high of .8047. How high can the Kiwi go? Read more…

Swiss Franc (CHF)

My my, that was some rally! The franc showed the dollar who’s boss, as the Swiss currency took advantage of risk appetite in the markets. USD/CHF breached the 1.0400 major psychological support and tumbled all the way down to a low of 1.0303. 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!