Daily Forex Fundamentals – September 1, 2011

What’s on the Economic Horizon

ADP Employment Change not as bad as expected
Australian Retail Sales and Capital Expenditure exceeds expectations

U.S. Dollar (USD)

The dollar danced to the tune of risk aversion yesterday as it gained against high-yielding currencies, but lost against its fellow safe havens on mixed economic data. EUR/USD sharply dropped by Read more…

Euro (EUR)

Ka-pow! Risk aversion got the euro knocked out in yesterday’s trading. EUR/USD ended the day 88 pips below its opening price at 1.4366 while EUR/CHF ended the day a whopping Read more…

British Pound (GBP)

For the second straight day, the pound fell victim to risk aversion and closed lower versus the safe haven U.S. dollar and the low-yielding Japanese yen. GBP/USD sat at the 1.6233 by the end of the U.S. trading session, a good 72 pips higher from Read more…

Japanese Yen (JPY)

Make way for the mighty safe-haven! The yen once again gained across the board as investors bought up safe-haven currencies like there’s no tomorrow. USD/JPY capped the day with a 19-pip loss at 7.6.58, while EUR/JPY also Read more…

Canadian Dollar (CAD)

Just when the Loonie thought it was gonna bring home the bacon when it reached a high of .9725, dollar bulls pounced in and pushed USD/CAD up the charts to end the day 12 pips above its opening price at .9793. Read more…

Australian Dollar (AUD)

Sorry mates! Just like its comdoll buddies the Aussie took a step back from its consecutive gains and posted a loss against the dollar when risk aversion took over the markets. AUD/USD dropped to an intraday low of Read more…

New Zealand Dollar (NZD)

Talk about a wild one! NZD/USD was unable to find a clear direction as it bounced around a clear sideways range yesterday. The pair found significant support around the .8505-.8515 area and major resistance at Read more…

Swiss Franc (CHF)

The Swissy finally decided enough was enough and cut its string of losses with a stellar win yesterday. The safe haven Swissy capped off the U.S. trading session with a 141-pip gain over the Greenback and a 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!