Daily Forex Fundamentals – July 1, 2013

What’s on the Economic Horizon

China’s Manufacturing PMI Comes in As Expected
U.S. Manufacturing PMI on Tap

U.S. Dollar (USD)

And that’s how you end the month with a bang! The U.S. dollar capped off the month of June with a strong rally against its major counterparts. AUD/USD made a new yearly low while EUR/USD retested the 1.3000 handle. Will July be kind to the dollar as well? Read more…

Euro (EUR)

The euro was all over the charts last Friday despite the release of better-than-expected reports from the euro region. EUR/USD and EUR/CHF closed below their open prices while EUR/GBP and EUR/JPY both finished the day with gains. What the heck happened?! Read more…

British Pound (GBP)

Talk about ending the week deep in the red! For the third consecutive day, GBP/USD closed lower than its opening price, as it finished at 1.5209, marking a 59-pip loss. Read more…

Japanese Yen (JPY)

Mixed as a bag of nuts! That’s how the yen’s performance was on Friday, as the Japanese currency lost ground to the U.S. dollar, gained against the Australian dollar, and consolidated against the British pound and the euro. Will it be able to find a clearer direction today? Read more…

Canadian Dollar (CAD)

The Loonie stopped by the Loserville last Friday after a weak report from Canada got mixed in with the comdoll aversion in the markets. USD/CAD tipped an intraday high at 1.0554 before it settled 42 pips higher than its open price. Yikes! Read more…

Australian Dollar (AUD)

What an ugly wipeout! The Australian dollar was knocked off its feet by both the Greenback and the yen, as AUD/USD hit new yearly lows while AUD/JPY fell below the 91.00 handle. Is there any chance that the Aussie could catch a good wave today? Read more…

New Zealand Dollar (NZD)

The Kiwi joined its comdoll siblings in the losers’ table last Friday, as it stumbled down the charts versus the dollar. NZD/USD dropped 38 pips to finish the day at .7746. Will we see more of the same today? Read more…

Swiss Franc (CHF)

Relatively mixed day for the franc, as it remained steady versus the dollar, but gained against the pound and Canadian dollar. What could be in store for us this week? 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!