Daily Forex Fundamentals – October 7, 2013

What’s on the Economic Horizon

Swiss foreign currency reserves report due today
Euro zone Sentix investor confidence to climb
U.S. government shutdown to continue?

U.S. Dollar (USD)

The almighty Greenback showed the markets who’s king of pips as it posted significant gains against the euro, pound, and the yen. How the heck did the lack of NFP report lead to that?! Read more…

Euro (EUR)

Thud! The euro fell like a heavy rock on Friday, with EUR/USD dropping to a low of 1.3545 and EUR/JPY falling 23 pips below the 132.00 major psychological level. What was that all about and can it recover today? Read more…

British Pound (GBP)

All good things come to an end, don’t they? At least that’s what the British pound was thinking on Friday! After consecutive rallies, pound pairs chalked up a large decline as GBP/USD tumbled below the 1.6100 handle while GBP/JPY sank to a low of 155.80. Read more…

Japanese Yen (JPY)

The yen’s price action was as mixed as jellybeans as it lost to the dollar and the Aussie but gained against the euro and the pound. Did the BOJ’s monetary policy decision have anything to do with that? Read more…

Canadian Dollar (CAD)

Finally, a rally! The Loonie was able to make a bit of headway against the U.S. dollar on Friday, as USD/CAD hit a high of 1.0342 then tumbled to a low of 1.0287. Will the pair keep heading lower or will it stay stuck inside consolidation? Read more…

Australian Dollar (AUD)

Back-to-back, baby! The Aussie benefited from the other major economies’ weak prospects as it scored pips against the dollar, yen, and the pound. Read more…

New Zealand Dollar (NZD)

Whew! That was close! Just when it seemed that NZD/USD was ready to make a strong break below the .8300 major psychological handle, the pair zoomed right back up and closed at .8324. Can it keep climbing today? Read more…

Swiss Franc (CHF)

Was that a pullback or what? USD/CHF put an end to its recent selloff, as the pair locked in a 75-pip gain on Friday. Let’s take a look at today’s set of reports to see if the downtrend is about to resume. 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!