Daily Forex Fundamentals – July 19, 2013

What’s on the Economic Horizon
Canadian CPI on tap
Philly Fed manufacturing index tops forecasts
Disappointing data cripple the AUD

U.S. Dollar (USD)

The dollar bulls gained ground at winning the tug-o-pips yesterday as positive U.S. data boosted the Greenback. EUR/USD and GBP/USD barely moved from their open prices, but USD/JPY and USD/CHF both showed decent gains. Read more…

Euro (EUR)

Weak sauce! The euro had another dismal performance against the dollar yesterday. EUR/USD sank lower, tapping a low of 1.3067 before finishing the day with a 9-pip loss at 1.3111. However, it got lucky against the yen, as EUR/JPY finished the day 111 pips above its opening price at 131.80. Read more…

British Pound (GBP)

It seems that it was the King weighing down the pound after all! After a report showed a sudden shift in voting results in the MPC, the pound soared up the charts, with GBP/USD soaring up to as high as 1.5268, before finally settling at 1.5212, up a solid 55 pips on the day. Read more…

Japanese Yen (JPY)

Rough day for the yen, as a wave of risk appetite encouraged traders to favor higher yielding currencies. By the end of the day, EUR/JPY, GBP/JPY, and USD/JPY were all trading significantly higher. Can this continue today? Read more…

Canadian Dollar (CAD)

The Loonie made the dollar eat its dust as it rallied on the charts yesterday. USD/CAD topped out at 1.0440 and dropped like a rock to close the day at 1.0376, with the Loonie enjoying a 38-pip win. Boo yeah! Read more…

Australian Dollar (AUD)

A couple of disappointing reports crippled the Aussie early in the day and set the tone for AUD/USD trading. From its opening price of .9232, the pair tumbled and didn’t stop until it hit .9138. At the end of the day, it settled at .9172. Read more…

New Zealand Dollar (NZD)

Just like the Jaegers struggled to defend the human race against the kaijus in Pacific Rim, the Kiwi bulls also fought hard against the bears. NZD/USD had dropped to an intraday low of .7848 before a bit of comdoll strength pushed the pair to close 4 pips higher than its open price. Booyah! Read more…

Swiss Franc (CHF)

Better-than-expected trade data? Meh. The franc was dragged across the mud against the dollar and the euro yesterday despite the release of positive Swiss data. What the heck brought that on?! 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!