Daily Forex Fundamentals – July 2, 2013

What’s on the Economic Horizon

ISM Manufacturing PMI Hints At A Weak NFP
Positive Data Boost the Euro
RBA Still More Inclined to Rate Cuts?

U.S. Dollar (USD)

Try again next time! Uncle Sam’s better-than-expected report yesterday didn’t do the Greenback any favors as it finished the day with mixed results against its counterparts. USD/JPY just missed the 100.00 handle, but USD/CHF, GBP/USD, and even EUR/USD all showed USD weakness. Read more…

Euro (EUR)

With positive data out of the euro zone, the euro strut through the charts with so much swag like Robin Thicke. Yesterday, it was able to pare its loss to the dollar on Friday when EUR/USD closed higher at 1.3065 after opening at 1.3020. Meanwhile, EUR/JPY finished with an 81-pip gain at 130.11. Read more…

British Pound (GBP)

Somebody’s acting all jumpy! GBP/USD had a volatile trading day as it slipped to a low of 1.5184 then zoomed up to a high of 1.5247 before consolidating around the 1.5220 area. What was that all about?! Read more…

Japanese Yen (JPY)

Look who’s gaining more muscle! The yen bears got busy at the start of the week as risk appetite dragged on the low-yielding yen. Heck, USD/JPY, EUR/JPY, GBP/JPY, and even AUD/JPY all ended the day in the green yesterday! Read more…

Canadian Dollar (CAD)

The Loonie is off to a good start! Despite the lack of economic reports from Canada, USD/CAD finished the first of July lower at 1.0496 after opening at 1.0527. Now the more important question is, will the Loonie be able to sustain its rally? Read more…

Australian Dollar (AUD)

Surf’s up, mates! The Aussie had a fantastic start of the week as it gained against the Greenback and the yen. AUD/USD popped up by 106 pips while AUD/JPY rose by a cool 140 pips. Read more…

New Zealand Dollar (NZD)

The Kiwi had a pretty good day yesterday, as NZD/USD managed to climb from a low of .7715 to a high of .7831. What’s in store for the New Zealand dollar today? Read more…

Swiss Franc (CHF)

USD/CHF seems to be drawn to the .9450 minor psychological level like a moth to a flame! The pair started the day by consolidating around this level before spiking to a high of .9504 then falling right back down to the .9450 area. 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!