Daily Forex Fundamentals – July 5, 2013

What’s on the Economic Horizon

NFP Report Set to Rock The Market’s Socks
Ivey PMI on Tap

U.S. Dollar (USD)

After taking a nasty tumble on Wednesday, the dollar got back on its feet to post solid wins against all of its major counterparts save for the Aussie and the Kiwi. Will today’s NFP report send it higher? Read more…

Euro (EUR)

Talk about getting kicked in the behind! The euro took a beating in yesterday’s trading matches, as the markets reacted negatively to the ECB rate statement. By the end of the day, EUR/USD was trading at 1.2912, exactly 100 pips below its opening price. Read more…

British Pound (GBP)

Somebody call an ambulance, Cable is bleeding very badly! In a surprising turn of events, Cable took a massive dive yesterday as the BOE rate statement revealed that it was on the cusp of further easing. Cable opened the day at 1.5272 and was sold-off heavily quickly after the release to close the day almost 200 pips lower at 1.5075. Read more…

Japanese Yen (JPY)

The yen may have lost ground to the dollar, but it more than made up for it with its performance against the euro and the pound. USD/JPY climbed 11 pips higher, while EUR/JPY fell 86 pips and GBP/JPY lost 185 pips. Read more…

Canadian Dollar (CAD)

With U.S. traders off on holiday and with no reports due from Canada, USD/CAD trading pretty much stuck within range and didn’t form any new significant highs or lows. Could that all change today with all the reports headed our way? Read more…

Australian Dollar (AUD)

Score one for the Aussie! After two straight days of ending in the red, it finally posted a win against the Greenback. Despite a poor showing from the building approvals report, it defied gravity to take AUD/USD 82 pips higher to end at .9148. Read more…

New Zealand Dollar (NZD)

Despite the lack of economic data, the Kiwi managed to rally and punch through the .7800 major psychological handle yesterday. NZD/USD began the day at .7770 and closed the day notably higher at .7837. Read more…

Swiss Franc (CHF)

Despite the absence of data from Switzerland, the Swissy still found itself on the back foot of the U.S. dollar. The USD/CHF pair began the day at .9471 and ended the U.S. trading session at .9567. 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!