Daily Forex Fundamentals – September 6, 2013

What’s on the Economic Horizon

NFP Report Expected at 178K
Canadian Employment Numbers on Tap
The ECB Hints at Further Easing

U.S. Dollar (USD)

Will the non-farm payrolls release make or break the dollar’s rally? The Greenback was able to rake in more gains against most of its major counterparts yesterday, as USD/JPY jumped above the 100.00 mark while EUR/USD dipped to a low of 1.3110. Read more…

Euro (EUR)

Bloodbath, bloodbath everywhere. The euro suffered significant losses against the Greenback, pound, and even the yen yesterday as weak data and a dovish ECB policy statement weighed on the common currency. Read more…

British Pound (GBP)

What a snoozer! The BOE didn’t release any statement with its monetary policy decision yesterday, which prompted traders to trade pairs like GBP/USD and EUR/GBP based on the pound’s counterparts’ price action. What’s up with the lack of details anyway?! Read more…

Japanese Yen (JPY)

The yen’s performance was as mixed as a bag of nuts, as the Japanese currency gained against the euro but lost ground to the pound and the U.S. dollar. USD/JPY traded briefly above the 100.00 mark while EUR/JPY slipped from a high of 132.14 to a low of 131.03. Read more…

Canadian Dollar (CAD)

The tug-o-pips continues! The USD/CAD bulls gained ground against the bears yesterday after the U.S. printed better-than-expected reports. The pair had dropped to an intraday low similar to the previous day before closing 13 pips higher than its open price. Read more…

Australian Dollar (AUD)

Retreat, Aussie bulls, retreat! After its sharp rallies the other day, AUD/USD pulled back to the .9120 area while AUD/JPY consolidated below the 91.50 level. Can the Aussie resume its climb today? Read more…

New Zealand Dollar (NZD)

Not so fast! Comdolls like the Aussie and Kiwi gave back most of their gains from the previous day as investors traded a dollar-bullish theme yesterday. NZD/USD had dropped to an intraday low of .7855 before ending the day 18 pips lower than its open price. Read more…

Swiss Franc (CHF)

The franc was dropped against the euro and the dollar like it was hot in yesterday’s trading. Both USD/CHF and EUR/CHF showed franc weakness despite the lack of Swiss-related reports. What the heck happened?! 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!