Daily Forex Fundamentals – September 2, 2011

What’s on the Economic Horizon

The Much-Awaited August NFP Report On Tap Today!
Switzerland’s Employment Level eyed at 4.11 Million
U.K. Manufacturing PMI Falls Short of Expectations

U.S. Dollar (USD)

Thanks to risk aversion rearing its ugly head back into the markets, the dollar was able to once again spook pips out of its European counterparts. EUR/USD ended the day 97 pips lower at 1.4269 while GBP/USD closed the day 49 pips below its opening price at 1.6184. Read more…

Euro (EUR)

Just when you thought the debt worries have faded away… BAM, it hits you right in the gut! The euro bulls received a painful punch in the gut yesterday on renewed concerns on euro zone’s debt crisis. As a result, EUR/USD ended the U.S. trading session 96 pips lower while EUR/JPY was 41 pips lower. Read more…

British Pound (GBP)

It’s strike three for the pound! For the third consecutive day the pound lost against most of its major counterparts at the release of weak economic reports from the U.K. It gave up all of its intraday gains in GBP/JPY, while GBP/USD dipped to a low of 1.0632. Read more…

Japanese Yen (JPY)

It seems like yen bulls had too much sake during yesterday’s trading as the currency’s scorecard printed mixed outcomes. EUR/JPY ended the day 39 pips lower at 109.60 but USD/JPY closed the day 23 pips above its opening price at 76.80. Read more…

Canadian Dollar (CAD)

Renewed euro zone debt concerns? So what? The Loonie remained strong against the safe haven dollar yesterday as it was able to hold below the .9800 handle. USD/CAD ended the U.S. trading session at .9759, marking a 35-pip gain for the Loonie. Read more…

Australian Dollar (AUD)

After getting rejected at the previous day high a couple of times at 1.0720, Aussie bulls finally gathered enough swag during the New York session to push AUD/USD past the level and end the day 48 pips above its opening price at 1.0739. Hollah! Read more…

New Zealand Dollar (NZD)

Not even China’s positive data can save the Kiwi! Unlike its fellow comdolls the Kiwi failed to rally against the Greenback yesterday. NZD/USD fell for a second day in a row, clocking in a 13-pip loss at .8509. What the heck happened? Read more…

Swiss Franc (CHF)

Who’s the boss now? Despite weak economic reports from Switzerland, the franc still managed to dominate the charts like a boss, gaining 242 pips on the euro and 117 pips against the dollar. Whoo! 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!