Daily Forex Fundamentals – September 2, 2013

What’s on the Economic Horizon

China’s Manufacturing PMI Surprises to the Upside
U.S. and Canada on a Labor Day Holiday
U.K. Manufacturing PMI Due Today

U.S. Dollar (USD)

The U.S. dollar put its game face on last Friday, as risk aversion extended its stay in the markets. EUR/USD dipped below the 1.3200 handle while GBP/USD tumbled to a low of 1.5461. What’s in store for the Greenback today? Read more…

Euro (EUR)

Strike three for the euro! The common currency received no love from the bulls last Friday when EUR/USD, EUR/JPY, EUR/GBP, and even EUR/CHF showed euro weakness. Did German data have anything to do with this? Read more…

British Pound (GBP)

Better-than-expected mortgage approvals data? Meh. The pound didn’t get much support from its mixed reports last Friday, so GBP/USD and GBP/JPY still ended up in the red. What exactly influenced the pound’s price action? Read more…

Japanese Yen (JPY)

Consolidation is the name of the game yo! Yen pairs moved mostly sideways on Friday yet the Japanese currency still managed to sneak in some gains against the pound and the Aussie. GBP/JPY edged down to a low of 151.68 while AUD/JPY dipped to 87.23. Read more…

Canadian Dollar (CAD)

That was so close! Just when we thought that the Loonie bulls would win the tug-o-pips, Canada rained on their parade and released a weak economic report. USD/CAD had popped to a high at 1.0559 before it settled 3 pips below its open price. Read more…

Australian Dollar (AUD)

Wipe out! AUD/USD just couldn’t seem to get back on its feet last Friday, as the pair crashed towards the .8900 major psychological support. AUD/JPY had its own share of losses, as it dipped to a low of 87.23. Can the Aussie recover today? Read more…

New Zealand Dollar (NZD)

Like its comdoll buddies, the Kiwi had no chance against the Greenback strength that clouded the markets in late Friday trading. NZD/USD had dropped by another 46 pips! Read more…

Swiss Franc (CHF)

The franc ended the day almost unchanged against the dollar and higher against the euro in Friday’s trading. Here’s why. 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!