Daily Forex Fundamentals – June 13, 2013

What’s on the Economic Horizon

U.S. retail sales expected to rebound
ECB monthly bulletin to show optimism?

U.S. Dollar (USD)

This summer is shaping up to be a very bad one for the Greenback. Yesterday, the Greenback suffered another bitter defeat in the foreign exchange market as it lost against all the major currencies. The U.S. dollar index that measures the performance of the currency against the other majors fell to 81.44 from 81.52. Read more…

Euro (EUR)

There’s just no stopping the euro bulls! Once again, they pushed forward as EUR/USD climbed another 17 pips, just as EUR/JPY recouped 33 pips from Tuesday’s big drop. Will bullish momentum carry the shared currency higher today? Read more…

British Pound (GBP)

Flex them muscles, pound bulls! The pound bulls showed that they are made of pretty strong stuff yesterday as they pushed Cable to its highest level in four months. Cable opened the day at 1.5648 and then closed the day with a respectable gain at 1.5679. Read more…

Japanese Yen (JPY)

Where are you headed, yen? Yesterday, the safe haven currency printed mixed results against its counterparts. While it was able to score a win against the dollar as USD/JPY closed 11 pips lower at 95.90, it gave up ground to the euro as EUR/JPY closed at 128.02 from 127.69. Read more…

Canadian Dollar (CAD)

Poor, poor Loonie! It was the only comdoll that was unable to chalk up gains against the Greenback! Despite a rise in oil prices, demand for the Loonie remained weak as USD/CAD climbed 25 pips to finish at 1.0214. What’s it going to do today? Read more…

Australian Dollar (AUD)

Crazy day for the Aussie, which just couldn’t hold on to its massive gains! After rising to as high as .9564, AUD/USD eventually settled at .9467, still 29 pips higher than its opening price. Read more…

New Zealand Dollar (NZD)

Enough is enough! Yesterday, the Kiwi finally exercised its right to rally by posting some decent gains versus the safe haven Greenback. NZD/USD might have started the day weakly at .7871 but it soon found itself 87 pips higher by the end of the U.S. trading session. Read more…

Swiss Franc (CHF)

The Swiss franc managed to post some respectable gains yesterday, thanks to the Wolfgang Schäuble’s comment that the ECB’s bond-buying program is completely legal. USD/CHF began the day at .9248 and then closed the U.S. trading session at .9210. 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!