Daily Forex Fundamentals – September 23, 2013

What’s on the Economic Horizon

German and French PMIs to show improvements
SNB head Thomas Jordan set to testify today

U.S. Dollar (USD)

The Greenback ended the week with a snoozer despite some buzzer-beater moments from the FOMC members. Heck, EUR/USD, USD/JPY, and USD/CHF barely moved from their open prices! What’s up with that?! Read more…

Euro (EUR)

And Merkel gets her third term as German Chancellor! The euro rejoiced after the German elections over the weekend, allowing EUR/USD to gap higher and start the week at 1.3551. EUR/JPY was also off to a good start as it opened at 134.51. Will the euro keep partying the entire day? Read more…

British Pound (GBP)

Friday wasn’t a good day to be a pound bull, as the British currency kept reeling from the previous day’s disappointing retail sales release. GBP/USD edged lower and dipped briefly below the 1.6000 major psychological support while GBP/JPY slipped to the 159.00 area. Read more…

Japanese Yen (JPY)

That’s how you end a week! The yen gained against its major counterparts last Friday despite a lack of data from Japan. USD/JPY saw a 9-pip slip while GBP/JPY also fell by 28 pips. What happened to the big yen moves though? Read more…

Canadian Dollar (CAD)

The Loonie put up a strong fight on Friday but was no match to the Greenback’s strength, as USD/CAD tried to land back above the 1.0300 handle but closed at 1.0299. What’s in store for the Canadian dollar today? Read more…

Australian Dollar (AUD)

Down for another day! AUD/USD fell for a second consecutive day last Friday thanks to overall risk aversion in the markets. The pair even reached an intraday low at .9378 before it closed 33 pips lower than its open price. Read more…

New Zealand Dollar (NZD)

What’s the matter, Kiwi dollar? Was the .8400 level too hot to handle? NZD/USD kept retreating on Friday, as the pair fell below the .8400 mark and ended the week at .8372. The pair gapped lower over the weekend and opened at .8352. Read more…

Swiss Franc (CHF)

Ain’t no taper talk gonna crush the franc! Unlike most of the major currencies that crumbled under dollar strength on Friday, the Swiss franc managed to hold its ground as USD/CHF consolidated above the .9100 major psychological support. 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!