Daily Forex Fundamentals – July 17, 2013

What’s on the Economic Horizon
BOC Governor Stephen Poloz’s first rate statement
BOE monetary policy votes set for release
Fed head Bernanke’s speech on tap

U.S. Dollar (USD)

With Big Ben’s speech just around the corner, it seems that the dollar bulls are starting to reduce their positions. The dollar stumbled against the euro, franc, yen, and Aussie in yesterday’s trading matches. What could be in store for us today? Read more…

Euro (EUR)

After a couple of days of consolidation, EUR/USD seems to be showing upward momentum as the pair surged above the 1.3100 handle in yesterday’s trading. EUR/JPY, on the other hand, remains stuck around 130.50. Read more…

British Pound (GBP)

Look who’s back in Loserville! The pound bears meant business yesterday as they dragged the currency significantly lower against the euro, yen, and the Aussie. Fortunately, an overall dollar weakness pushed Cable up 12 pips from its intraday low. Read more…

Japanese Yen (JPY)

The yen took advantage of overall Greenback weakness, allowing USD/JPY to edge lower down the charts. After trading as high as 100.07, USD/JPY finished the day nearly 100 pips lower at 98.98. Read more…

Canadian Dollar (CAD)

Way to go, little guy! The Loonie was able to resume its rally against the U.S. dollar in yesterday’s trading, as USD/CAD slipped below the 1.0400 major psychological level. What’s in store for the Loonie today? Read more…

Australian Dollar (AUD)

The Aussie hanged ten on Tuesday, as it led the way in the forex markets. AUD/USD had its biggest one day gain in a month, as it rose a solid 142 pips to finish at .9252. Will we see more of the same today? Read more…

New Zealand Dollar (NZD)

It was a good day to buy the comdolls against the Greenback yesterday as overall comdoll appetite hit the markets. In fact, NZD/USD closed 83 pips higher than its open price despite the release of a lower-than-expected New Zealand report. Booyah! Read more…

Swiss Franc (CHF)

What a coup! Switzerland didn’t release any economic report yesterday, but individual concerns for the other currencies pushed the low-yielding franc higher against its counterparts. 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!