Daily Forex Fundamentals – October 4, 2013

What’s on the Economic Horizon

BOJ’s Monetary Policy Decision on Tap
GPB Gets Hit by Profit-Taking
Canadian IVEY PMI Due Today

U.S. Dollar (USD)

Well, you can’t win ’em all, can you? The Greenback had a mixed performance against its major currency rivals, as it ended lower against the euro and the yen but scored some gains against the pound and the Kiwi. Can it find a clearer direction today? Read more…

Euro (EUR)

Victory! EUR/USD, EUR/GBP, and EUR/JPY all saw rallies yesterday as better-than-expected reports got mixed in with EUR appetite yesterday. What factors boosted the euro anyway?! Read more…

British Pound (GBP)

Party’s over, boys! The pound bulls took a breather yesterday as the pound saw losses across the board. GBP/USD and GBP/JPY ended up in the red while EUR/GBP shot above its .8400 support. Read more…

Japanese Yen (JPY)

Way to go, yen! The Japanese currency scored gains against most of its rivals, except for the euro. USD/JPY dipped to a new monthly low of 96.93 while GBP/JPY tumbled to the 157.00 handle. EUR/JPY, on the other hand, rallied to a high of 133.21. Read more…

Canadian Dollar (CAD)

With Canada not releasing economic reports, USD/CAD got stuck in Snoozeville. The pair only slipped by 4 pips after dropping to a low at 1.0313. Read more…

Australian Dollar (AUD)

It’s Topsy-Turvy Thursdays for the Aussie! The Australian dollar suffered a bit of a selloff during the Asian session only to recover in the U.S. session. AUD/USD dipped to a low of .9339 then bounced back above the .9400 handle while AUD/JPY found support at the 91.00 area. Read more…

New Zealand Dollar (NZD)

Wheeler, Wheeler, chicken dinner! RBNZ Governor Graeme Wheeler won points with the Kiwi bulls yesterday as his news pushed NZD/USD to an intraday high 41 pips higher than its open price. Read more…

Swiss Franc (CHF)

The franc played the Simon Says game with its counterparts as it moved to the beat of dollar and euro sentiment. USD/CHF closed below .9000 while EUR/CHF experienced a see-saw trading on EUR’s movements. 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!

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