Daily Forex Fundamentals – October 2, 2013

What’s on the Economic Horizon

Australia’s Retail Sales and Building Approvals Disappoint
ECB to Give A Dovish Press Conference?
U.K. Construction PMI on Tap

U.S. Dollar (USD)

Government shutdown? Bring it on! The Greenback was surprisingly resilient in yesterday’s trading, as EUR/USD spiked higher then closed back below the 1.3550 mark while USD/JPY held on to the 98.00 handle. Can the U.S. dollar keep it up today? Read more…

Euro (EUR)

Red was the euro’s color yesterday as it weakened on disappointing euro zone reports and overall risk aversion. EUR/JPY saw a steep loss while EUR/USD and EUR/GBP had trouble closing in favor of the euro. Read more…

British Pound (GBP)

Is the party over for the bulls? The pound lost pips against its major counterparts yesterday after a major U.K. report surprised to the downside. GBP/USD closed well below its intraday highs while GBP/JPY saw steep losses. Read more…

Japanese Yen (JPY)

The yen sure likes to mix things up, doesn’t it? The Japanese currency was able to score some gains against the euro and pound, but it gave up some of its recent wins to the Australian dollar. EUR/JPY slid to the 132.50 area while AUD/JPY edged higher to the 92.00 mark. Read more…

Canadian Dollar (CAD)

Another one bites the dust! Despite the U.S. government shutdown brouhaha, the dollar still maintained its gains against its counterparts. USD/CAD closed 24 pips higher than its open price after reaching a high at 1.0338. Read more…

Australian Dollar (AUD)

Surf’s up, mates! The Australian dollar was pretty stoked with its gains yesterday, as it caught a 100-pip wave against the Greenback. AUD/USD dipped to a low of .9289 then jumped to a high of .9436 before ending the day at .9399. Can it keep cruising higher today? Read more…

New Zealand Dollar (NZD)

The Kiwi jumped on the bears’ bandwagon yesterday as NZD/USD gave up 27 pips. What the heck weighed on the Kiwi this time? Read more…

Swiss Franc (CHF)

The franc got a one-two punch from the Greenback and the euro yesterday despite a release of better-than-expected economic data. What’s up with that?! 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!