Daily Forex Fundamentals – October 23, 2013

What’s on the Economic Horizon
USD Plunges on Weak NFP
MPC Meeting Minutes Due Today
BOC to Release Monetary Policy Decision

U.S. Dollar (USD)

Geronimoooo!!! The Greenback fell sharply against its counterparts yesterday after a weak NFP report supported the idea of no Fed taper this year. EUR/USD and GBP/USD popped higher while USD/CHF dropped to a two-year low. Yikes! Read more…

Euro (EUR)

Euro bulls unite! The common currency clobbered its major counterparts yesterday despite the lack of economic data from the euro zone. Was it all because of the NFP report then? Read more…

British Pound (GBP)

What a coup by the bulls! Thanks to overall risk appetite and a positive U.K. data, the pound ended the day in the green against the dollar and the yen. It wasn’t as lucky against the higher-yielding currencies though. What’s up with that?! Read more…

Japanese Yen (JPY)

You win some, you lose… a lot? Although USD/JPY slipped lower yesterday, it didn’t make up for the huge jumps that we saw in yes crosses like EUR/JPY, GBP/JPY, and AUD/JPY. Read more…

Canadian Dollar (CAD)

Mixed retail sales report? No problem! The Loonie bulls didn’t get left out of the risk rally yesterday despite the release of mixed data from Canada. USD/CAD closed 13 pips below its open price after hitting an intraday low at 1.0270. Read more…

Australian Dollar (AUD)

Aaaand we’re back to regular programming! AUD/USD resumed its uptrend yesterday after a weak NFP report boosted higher-yielding currencies like the comdolls. Read more…

New Zealand Dollar (NZD)

Think the Kiwi would be left behind by the risk rally? Think again! NZD/USD jumped to a five-month high yesterday after the U.S. printed a weak NFP report. How will this affect the Kiwi going forward? Read more…

Swiss Franc (CHF)

The franc pulled a double victory against the dollar and the euro yesterday as a strong Swiss data boosted the low-yielding currency. USD/CHF dropped to a five-month low while EUR/CHF closed slightly lower than its open price. 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!