Daily Forex Fundamentals – October 22, 2013

What’s on the Economic Horizon
U.S. September NFP due today
U.K. to post smaller public net borrowing figure?
Weaker gains in Canadian retail sales expected

U.S. Dollar (USD)

Looks like the Greenback needed to pull up for some air after all those deep dives! USD/JPY climbed back above the 98.00 handle after dipping to a low of 97.55 while GBP/USD retreated below the 1.6150 minor psychological mark. What can we expect for the U.S. dollar today? Read more…

Euro (EUR)

Consolidation is the name of the game! EUR/USD was stuck between support at 1.3650 and resistance at the 1.3700 major psychological level, as the pair kept waiting for a catalyst for a strong move in either direction. Will we see one in today’s trading sessions? Read more…

British Pound (GBP)

Too fast, too furious? The British pound had enough of its sharp rallies that it edged lower against the dollar and moved sideways against the Japanese yen. GBP/USD slid under the 1.6150 handle while GBP/JPY was stuck around the 158.50 area. Read more…

Japanese Yen (JPY)

When risk is on, yen bears are out to play! The Japanese currency lost ground to its higher-yielding counterparts, as AUD/JPY climbed a few pips close to the 95.00 handle while USD/JPY bounced back above the 98.00 handle. Is the yen in for more losses? Read more…

Canadian Dollar (CAD)

Road bump! USD/CAD couldn’t seem to go any further past the 1.0300 major psychological level, as the pair kept bouncing from this support zone yesterday. USD/CAD is still consolidating around this area in the meantime, waiting for a stronger push from today’s set of data. Read more…

Australian Dollar (AUD)

Well you can’t win ’em all, can you? The Australian dollar raked in some gains against the Japanese yen but was unable to make headway against the U.S. dollar in yesterday’s trading. AUD/USD held steady around the .9650 area while AUD/JPY climbed towards the 95.00 handle. Is the Aussie ready for more gains? Read more…

New Zealand Dollar (NZD)

The Kiwi got its wings clipped in yesterday’s trading, as the New Zealand dollar was one of the worst performing currencies against the U.S. dollar yesterday. NZD/USD fell from a high of .8509 to a low of .8438 before ending the U.S. session around .8450. Read more…

Swiss Franc (CHF)

Zzzz… USD/CHF had a lazy Monday as it simply cruised sideways above the .9000 major psychological support level. In fact, the pair was stuck in a tight range as it found resistance at the .9040 area. Will it break out today and which way can it go? Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!