Daily Forex Fundamentals – September 5, 2013

What’s on the Economic Horizon

BOE Gov Carney to highlight economic improvements
U.S. data today to provide more clues for NFP
Australia prints weak trade balance

U.S. Dollar (USD)

Guess who’s back? No, it’s not Slim Shady. It’s the dollar bears yo! The Greenback posted small losses against the euro and pound yesterday on the back of mixed data from the U.S. What gives?! Read more…

Euro (EUR)

Euro bulls charging through! The euro snapped out of its losing streak to the dollar during yesterday’s New York session, as EUR/USD pulled up to the 1.3200 area. EUR/JPY also had its share of gains, as it spiked to a high of 131.82. Was this just a retracement though? Read more…

British Pound (GBP)

Saddle up, fellas! The pound looks ready for a good race! GBP/USD zoomed north to a high of 1.5646 while GBP/JPY rallied to the 156.00 mark, as data from the U.K. turned out better than expected. Let’s take a look at the recent U.K. reports. Read more…

Japanese Yen (JPY)

The yen got triple roundhouse-kicked by its major counterparts yesterday as risk appetite and weak prospects in Japan weighed on the Asian currency. EUR/JPY, GBP/JPY, and even AUD/JPY showed gains yesterday with AUD/JPY popping up by as much as 140 pips. Yikes! Read more…

Canadian Dollar (CAD)

And that’s how the Loonie rolls! After consolidating for a couple of days around the 1.0550 handle, USD/CAD made a downside break and dipped to a low of 1.0474. What was that all about?! Read more…

Australian Dollar (AUD)

Who’s the loser now? The Aussie slammed its counterparts across the board when data from Australia encouraged short squeezes across the Aussie pairs. AUD/USD jumped by 116 pips while AUD/JPY registered a nice 118-pip increase. Read more…

New Zealand Dollar (NZD)

Look at the Kiwi fly! NZD/USD finally busted out of its range and soared up to a high of .7927 as risk appetite improved yesterday. The question is: Will it be able to hold on to its recent gains and go for more? Read more…

Swiss Franc (CHF)

Chop, chop, chop… That’s what franc trading was all about yesterday, as USD/CHF tossed around the .9350 to .9380 area. EUR/CHF had better luck in picking a direction, as the pair climbed up to a high of 1.2367. 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!