Daily Forex Fundamentals – January 3, 2013

What’s on the Economic Horizon

ADP and unemployment reports on tap
U.K. Construction PMI for December eyed at 49.6

U.S. Dollar (USD)

It was one of those days when everything just fell into place for the dollar. Lady Luck sided with the Greenback yesterday, allowing it to finish the day with wins against the euro, yen, and the Swiss franc. Read more…

Euro (EUR)

No break of 1.3300 to start the year! After launching high to test the major psychological handle, EUR/USD came tumbling back down, erasing all of its gains and ending the day 11 pips lower at 1.3176. Will it give this major resistance level another shot or can we expect more losses from the euro? Read more…

British Pound (GBP)

What a reversal of fortunes! After hitting an intraday high at 1.6381, GBP/USD dropped during the latter trading sessions, as the Cable bulls gave back all their gains. By the end of the day, the pair was trading at 1.6246, just 11 pips above its opening price. Read more…

Japanese Yen (JPY)

When will the bleeding stop? It looks like the New Year brought nothing new to the yen’s scorecard. The Asian currency extended its losses to the dollar, finishing yesterday’s trading with a 38-pip loss at 87.12. Meanwhile, against the euro, the yen gave up 39 pips closing at 114.79. Read more…

Canadian Dollar (CAD)

Now that’s how you start the year! The Loonie racked up some major pips from yesterday’s trading, forcing USD/CAD to slip 79 pips to .9860 as the U.S. fiscal deal set off fireworks for comdoll traders. Suweeeet! Read more…

Australian Dollar (AUD)

Talk about starting the year right! The Aussie soared against the dollar in the first trading day of the year. AUD/USD finished the day at 1.0488, up from its opening price of 1.0396. Read more…

New Zealand Dollar (NZD)

Now that’s how you start the year on a solid note! With risk appetite sweeping back into the markets, the Kiwi soared higher, rising 34 pips to finish at .8305. Could we see more of the same today? Read more…

Swiss Franc (CHF)

After starting the day off on a tear, the Swiss franc lost steam heading into the New York session and not only lost all its gains but took a hit as well! USD/CHF hit a low of .9079 before reversing and rising up to finish at .9186, up 26 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.

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