Daily Forex Fundamentals – July 3, 2013

What’s on the Economic Horizon

U.S. Initial Jobless Claims, ADP Employment Change, ISM Non-Manufacturing PMI, and Trade Balance on Deck
Euro zone Retail Sales to Turn Positive?
U.K. Services PMI to Print a Reading of 54.6

U.S. Dollar (USD)

Who is everyone calling weak now?? Most defo not the dollar! After a dismal start to the week, the Greenback pared all of its losses to its counterparts yesterday. USD/JPY strongly broke past the major 100.00 level with a massive 106-pip gain at 100.65. Meanwhile, EUR/USD resumed its drop, closing well below 1.3000 at 1.2976. Read more…

Euro (EUR)

After a few days of reprieve, EUR/USD returned to its downtrend yesterday and fell to its lowest level in one month. The pair began the day at 1.3064 and found itself sitting 88 pips lower at 1.2976 by the end of the New York trading session. Read more…

British Pound (GBP)

The pound might not have been king of pips yesterday, but neither was it at the bottom of the dog pile. GBP/USD’s crash below 1.5200 was met with a 94-pip jump on GBP/JPY and a 22-pip slip on EUR/GBP. What’s up with that?! Read more…

Japanese Yen (JPY)

The yen just couldn’t get it together! It gave up more ground to the dollar yesterday as USD/JPY flew past the 100.00 handle, closing 106 pips higher at 100.65. Meanwhile, against the euro, it settled with a 48-pip loss as EUR/JPY finished higher at 130.59. Read more…

Canadian Dollar (CAD)

The Loonie took a major hit again yesterday as the USD/CAD pair managed to post new highs. The pair, after opening the Tokyo session at 1.0495, had skyrocketed as high as 1.0579 before it closed the New York trading session at 1.0548. Read more…

Australian Dollar (AUD)

Tuesday was NOT the Aussie’s day. No thanks to the dollar’s strength and a dovish RBA statement, the Aussie extended its slide against the dollar. AUD/USD closed the day 88 pips below its opening price at .9143. Read more…

New Zealand Dollar (NZD)

Timbeeeeeer!!! The Kiwi bulls were no match for the bears’ strength as bearish comdoll news and dollar strength weighed heavily on the Kiwi. NZD/USD fell by 64 pips after dropping to an intraday low of .7737. Read more…

Swiss Franc (CHF)

The franc played a game of Simon Says with its counterparts yesterday as it danced to the tune of their price action. USD/CHF bowed to overall dollar strength, while EUR/CHF showed the broad euro weakness. 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!