Daily Forex Fundamentals – October 21, 2013

What’s on the Economic Horizon
Japan Posts 15th Monthly Trade Deficit
U.S. New Home Sales Due Today
Canada Wholesale Sales on Tap

U.S. Dollar (USD)

After Friday’s bloodbath, the Greenback was able to catch a breather against its counterparts. Thanks to a lack of catalyst, EUR/USD, GBP/USD, USD/JPY, and even USD/CHF ended the day not far from its open prices. Phew! Read more…

Euro (EUR)

Dojis, dojis everywhere! After making an effort in early London session trading, investors decided to close shop early and just wait for the next week. Heck, the euro ended the day almost unchanged against its counterparts! Read more…

British Pound (GBP)

Has the pound lost its charm? The pound bulls quickly went got off their post retail sales high as they pushed the currency in mixed directions. Does this mean that data-induced rallies are a thing of the past? Read more…

Japanese Yen (JPY)

You win some, you lose some. The yen managed to hold off more losses from some of its major counterparts as Nikkei snaps its consecutive gains on profit-taking. USD/JPY, EUR/JPY, and GBP/JPY ended the day with dojis without hitting significant intraday highs and lows. Read more…

Canadian Dollar (CAD)

It ends at two! The Loonie failed to have a triple combo against the Greenback last Friday as Canada’s CPI mostly came in within expectations. USD/CAD even ended the day 3 pips higher than its open price after hitting an intraday low at 1.0277. Yikes! Read more…

Australian Dollar (AUD)

High five, Aussie bulls! The Aussie was one of the strongest (if not THE strongest) performing currencies last Friday as data from China inspired optimism for the comdolls. AUD/USD locked in its 8th consecutive positive day and ended the day 44 pips higher than its open price. Up top, mates! Read more…

New Zealand Dollar (NZD)

Like many other dollar counterparts, the Kiwi was unable to make headways against the dollar last Friday. NZD/USD even dropped to an intraday low of .8488 before it closed 2 pips below its open price. Yawn. Read more…

Swiss Franc (CHF)

Since the franc doesn’t usually get any action on a regular day, it’s not surprising that it had a muted price action against its counterparts last Friday. USD/CHF and EUR/CHF barely moved from their open prices as traders packed up early for the weekend. 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!