Daily Forex Fundamentals – October 8, 2013

What’s on the Economic Horizon

Canadian building permits sharply falls
Swiss CPI and SNB speech due today
AU Westpac consumer sentiment on tap

U.S. Dollar (USD)

Monday wasn’t a good day to be a dollar bull, as the Greenback chalked up losses against its major currency rivals. EUR/USD bounced from the 1.3550 area to a high of 1.3592 while GBP/USD rallied back to the 1.6100 mark. What’s in store for the dollar today? Read more…

Euro (EUR)

Hi-yah! The common currency received a triple roundhouse kick from the yen, pound, and the franc as the euro zone’s fundamentals caught up to its price action. What the heck brought that on?! Read more…

British Pound (GBP)

Finally, a breather! With no major market driver in the markets, the pound traders paid attention to the U.K.’s better-than-expected reports. GBP/USD was able to snatch a 67-pip gain while GBP/JPY and EUR/GBP also showed pound strength. Read more…

Japanese Yen (JPY)

When risk is off, the yen bulls love to party! The Japanese currency took advantage of traders’ appetite for lower-yielding currencies yesterday, as it raked in the gains against its counterparts. EUR/JPY tumbled below the 132.00 handle while GBP/JPY sank below 156.00. Read more…

Canadian Dollar (CAD)

The Loonie started the week on the wrong side of the charts as a report from Canada came in waaaay weaker than expected. USD/CSD popped up to a high at 1.0335 before it settled with a 24-pip gain. Read more…

Australian Dollar (AUD)

Is that a bit of red I see? The Australian dollar put up a good fight against the U.S. dollar and the Japanese yen yesterday, but it ended up with a few cuts and bruises. AUD/USD closed 11 pips down from its .9441 open price while AUD/JPY dipped a couple of pips below the 91.00 mark. Read more…

New Zealand Dollar (NZD)

Zzzzzz… Thanks to a lack of market-moving catalysts, the Kiwi had a snoozefest yesterday. NZD/USD ended the day almost unchanged after falling to an intraday low of .8270. Read more…

Swiss Franc (CHF)

It’s two for two for the franc! Thanks to dollar and euro weakness, USD/CHF and EUR/CHF both gave up pips yesterday. Did Switzerland’s reports have any weight at all? 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!