Daily Forex Fundamentals – October 9, 2013

What’s on the Economic Horizon

FOMC meeting minutes due today
Australian Westpac consumer sentiment down 2.1%
German industrial production to show 1.1% rebound?

U.S. Dollar (USD)

USD/JPY, USD/CHF, EUR/USD, and GBP/USD ended the day with mixed results as traders priced in a lack of progress in Washington as well as some U.S. economic reports. What exactly moved the Greenback yesterday? Read more…

Euro (EUR)

EUR/USD paced back and forth between support around 1.3560 and resistance below 1.3600, as traders kept waiting for a strong market catalyst. EUR/JPY rallied to a high of 132.04 then ended the U.S. session at 131.49. Read more…

British Pound (GBP)

What in the world…? Pound pairs seemed to have a brief moment of panic yesterday, as GBP/USD suddenly spiked to a low of 1.6020 before recovering back above 1.6100 while GBP/JPY tested support at 155.50. What the heck happened there?! Read more…

Japanese Yen (JPY)

Doji alert! The yen got almost nowhere against its counterparts yesterday thanks to the lack of market-moving catalysts in the streets. USD/JPY, GBP/JPY, and EUR/JPY capped the day with dojis without making significant intraday highs and lows. Read more…

Canadian Dollar (CAD)

It looks like USD/CAD finally made up its mind! The pair had been stuck in a range for quite some time now, but it appears to have broken to the upside towards the end of the U.S. session. USD/CAD jumped from a low of 1.0307 to a high of 1.0374. Read more…

Australian Dollar (AUD)

D’oh, that was so close! Just when we thought that the Aussie is in for a good day, risk aversion inspired a reality check. AUD/USD reached an intraday high at .9485 but it closed at .9433, just 3 pips up from its open price. Read more…

New Zealand Dollar (NZD)

“Help me! I’m stuck!” That’s probably what NZD/USD was feeling yesterday, as the pair just couldn’t make significant headway past the .8300 major psychological area. Will today’s set of reports trigger a breakout in either direction? Read more…

Swiss Franc (CHF)

Zzz… Franc price action was a snoozer yesterday, with USD/CHF lounging below the .9050 minor psychological level and EUR/CHF cruising above 1.2250. What are the chances of seeing more action today? 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!