Daily Forex Fundamentals – July 24, 2013

What’s on the Economic Horizon

Euro zone PMIs expected to show improvements
U.S. new home sales seen higher
RBNZ rate statement just around the corner

U.S. Dollar (USD)

The dollar bears were at it again yesterday after data from the U.S. revealed more weaknesses. EUR/USD shot up by another 39 pips while USD/CHF ended the day 59 pips lower than its intraday high. What gives? Read more…

Euro (EUR)

There goes the 1.3200 handle! Even without help from economic reports, the euro was able to rise to new highs, claiming control over EUR/USD and taking the pair up 39 pips higher to 1.3224. What’s next? Read more…

British Pound (GBP)

Mixed trading for the pound, which edged higher versus the Greenback but took a tiny hit versus the euro. What could be in store for all you pound traders today? Read more…

Japanese Yen (JPY)

The yen’s performance was as mixed as the colors of Happy Pip’s shoes as yen traders reacted to a BOJ report as well as the other currencies’ price action. The Asian currency gained against the Greenback but lost to the euro, pound, and the Aussie. Read more…

Canadian Dollar (CAD)

Boom goes the dynamite! USD/CAD exploded downwards yesterday as the Loonie put up its biggest win in almost two weeks! The pair opened at 1.0343, slid 57 pips, and ended the day at 1.0286. Read more…

Australian Dollar (AUD)

Strike three! AUD/USD gained for a third straight day in a row even though Australia didn’t chip in any economic report. Was the pair’s 50-pip uptick all about the Greenback then? Read more…

New Zealand Dollar (NZD)

Make that SEVEN days in a row that the Kiwi has edged higher! NZD/USD finished trading a shade under the .8000, marking a 40-pip gain on the day. Read more…

Swiss Franc (CHF)

After stumbling early on, the Swiss franc made a nice comeback late in the day to edge higher versus the dollar. USD/CHF finished at .9349, down 15 pips on the day after it had traded as high as .9407. 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!