Daily Forex Fundamentals – September 10, 2013

What’s on the Economic Horizon

Australia’s NAB Business Confidence Shoots Up
French Industrial Production Due Today
Dollar Falls Across the Board

U.S. Dollar (USD)

The Greenback was stuck in Loserville yesterday, as its major rivals took advantage of its post-NFP weakness. EUR/USD climbed to the 1.3250 area while GBP/USD reached the 1.5700 level. Will the Greenback have a chance to bring sexy back? Read more…

Euro (EUR)

Score another one for the euro! The common currency chalked up more gains against its counterparts thanks to an improvement in risk appetite and a better-than-expected report. EUR/USD, EUR/GBP, and EUR/JPY all showed gains with EUR/USD shooting up by as much as 91 pips. Read more…

British Pound (GBP)

Looks like momentum is still on the bulls’ side! GBP/USD and GBP/JPY all reflected the pound strength seen in the markets despite the lack of major data from the U.K. What could have pushed the pound higher? Read more…

Japanese Yen (JPY)

The yen joined the Greenback in the losers’ table yesterday, as the Japanese currency was outpaced by all of its major counterparts. EUR/JPY soared above the 132.00 handle while GBP/JPY reached a high of 156.64. What’s causing the yen’s selloff? Read more…

Canadian Dollar (CAD)

Back-to-back, baby! USD/CAD sustained more losses yesterday after a report from Canada surprised to the upside. The pair closed 27 pips lower than its open price after dropping to an intraday low of 1.0359. Read more…

Australian Dollar (AUD)

It’s a victory for Aussie bulls! AUD/USD rallied to a high of .9242 while AUD/JPY reached the 92.00 levels, as Prime Minister Abbott’s win resulted in a more positive outlook for the Australian economy. Can the Australian dollar sustain its gains today? Read more…

New Zealand Dollar (NZD)

Like its comdoll brothas, the Kiwi had didn’t let a lack of data stand in its way to more gains. NZD/USD closed 12 pips higher than its open price after dropping to an intraday low of .7961. Booyah! Read more…

Swiss Franc (CHF)

Weaker-than-expected data? Eh. Once again, the franc traded on its counterparts’ price action even though Switzerland had released a couple of economic reports yesterday. Were the reports so insignificant then? 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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