Daily Forex Fundamentals – June 3, 2013

What’s on the Economic Horizon?

Australia’s Retail Sales Disappointed Expectations
Euro Zone Manufacturing PMIs Due Today

U.S. Dollar (USD)

Last Friday, after two consecutive days of defeat, the Greenback finally managed to stage a nice rally. The U.S. Dollar Index, which tracks the performance of the Greenback against a basket of major currencies, went to 83.76 from 83.52. Read more…

Euro (EUR)

Now your see it, now you don’t! The euro failed to sustain its intraweek gains against its counterparts as data from Germany and the euro zone limited demand for the common currency. Read more…

British Pound (GBP)

The pound did such a good job holding on to the 1.5200 handle during the Tokyo and London sessions in Friday’s trading, however, it lost its grip towards the latter part of the day. GBP/USD tumbled below the level, closing with a 37-pip loss for the day. Read more…

Japanese Yen (JPY)

For the third straight day, the Japanese yen was able to hold its own versus the U.S. dollar last Friday. The USD/JPY pair fell to 100.47 after it had opened at 100.77. Read more…

Canadian Dollar (CAD)

Good economic data? So what?! The Loonie didn’t catch a break from the Greenback strength last Friday even as Canada printed upside surprises in its economic reports. USD/CAD finished the day 68 pips higher than its open price after hitting an intraday high of 1.0382. Read more…

Australian Dollar (AUD)

AUD/USD found itself under heavy selling pressure again last week as the shifting monetary policy outlook continued to hurt the demand. The pair closed the trading week weakly at .9577, off its high at .9696.The pair is now at its lowest level since October of 2011. Read more…

New Zealand Dollar (NZD)

Dang! Last Friday, the Kiwi was as flightless as the bird it’s named after. NZD/USD broke below support at .8000, finishing the day with a 117-pip loss at .7946. Read more…

Swiss Franc (CHF)

Without any economic data on tap, the franc just couldn’t bust a move! In Friday’s trading, it gave up some of its gains to the dollar. USD/CHF bounced off support around .9550 to finish the day with the franc sustaining a 28-pip loss at .9563. 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!