Daily Forex Fundamentals – July 23, 2013

What’s on the Economic Horizon

CAD Retail Sales Figures on Tap
NZD Trade Balance Report Due Today

U.S. Dollar (USD)

Dollar bears unite! The Greenback was smacked down across the board yesterday after a weak U.S. report fueled the demand for higher-yielding currencies. EUR/GBP and GBP/USD jumped up the chart while USD/JPY and USD/CHF slid by 40 and 80 pips respectively. Read more…

Euro (EUR)

Solid start to the week for the euro, as it edged 46 pips higher versus the dollar to finish at 1.3184. The question is, can the euro bulls sustain the momentum or will they falter today? Read more…

British Pound (GBP)

The pound was sought after like ice cold lemonade on a hot summer’s day. Despite the lack of economic data during Monday’s trading, GBP/USD was able to extend its gains when it closed higher from 1.5270 to 1.5358. Read more…

Japanese Yen (JPY)

The yen was king of pips yesterday after Abe’s LDP won Japan’s recent elections by a landslide. Why were the yen bulls so giddy over it anyway? Read more…

Canadian Dollar (CAD)

Make that a hat-trick for the Loonie! Once again, USD/CAD finished lower, ending the day at 1.0343, down 22 pips from its opening price. Can the Canadian dollar make it four in a row? Read more…

Australian Dollar (AUD)

Surf’s up, mates! The Aussie clocked in another positive day against the Greenback as AUD/USD closed 63 pips higher than its open price. What’s up with that?! Read more…

New Zealand Dollar (NZD)

Who are you calling flightless?? The Kiwi definitely wasn’t in yesterday’s trading. NZD/USD opened at .7897 and traded higher all the way up to finish the day at .7967. Read more…

Swiss Franc (CHF)

It looks like the franc is off to a good start! The currency started this week with a win against the dollar. USD/CHF opened at .9406 and finished the New York session lower at .9360. So, what moved the franc? 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!