Daily Forex Fundamentals – June 19, 2013

What’s on the Economic Horizon

FOMC Statement Set to Rock Markets?
New BOC Governor Poloz Scheduled to Speak

U.S. Dollar (USD)

Except for the euro and the Swissy, the dollar dominated all of its major counterparts yesterday. Does this mean that traders are expecting the dollar to rally after today’s FOMC statement? Read more…

Euro (EUR)

Smooth sailing for the euro, as it climbed higher for the second day in a row. After trading as low as 1.3325, EUR/USD managed to close a shade below 1.3400 to set a new high. Will the EUR bulls have enough juice today to break through the psychological level? Read more…

British Pound (GBP)

Tough day for the pound! The sterling posted heavy losses against the dollar and the euro following a surge in demand for EUR/GBP. Cable dropped by 90 pips while EUR/GBP rocketed to last month’s highs at around .8575. What’s up with that?! Read more…

Japanese Yen (JPY)

Finally, yen sellers came out to play! They put up their best performance in a week as USD/JPY posted its second rise in a row, climbing from its opening price 94.46 to end the day with an 85-pip gain at 95.31. Is this a sign of things to come? Read more…

Canadian Dollar (CAD)

For the second day in a row, the Canadian dollar slipped through the cracks, as it allowed the Greenback bulls to edge higher. By the end of the day, USD/CAD rose 31 pips to finish at 1.0209. Read more…

Australian Dollar (AUD)

Yikes! It looks like traders ain’t done dumping the Aussie! Once again, they took the comdoll lower as AUD/USD slipped 92 pips to end at .9479. Will the pair retest its former low at around .9330? Read more…

New Zealand Dollar (NZD)

It’s strike three for the Kiwi! NZD/USD posted its third losing day in a row thanks to overall aversion to the comdolls. The pair dipped to an intraday low of .7948 before ending the day 15 pips lower than its open price. Read more…

Swiss Franc (CHF)

With no data out from Switzerland, the franc’s price action depended on its counterparts. USD/CHF slipped by 22 pips while EUR/CHF popped up by 61 pips. What gives? Read more…

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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!