Daily Forex Fundamentals – October 25, 2013

What’s on the Economic Horizon
U.S. initial jobless claims at 350K vs. 362K previous
BOE to accept a wider range of collateral
Japan’s inflation numbers mixed

U.S. Dollar (USD)

The dollar’s price action was as mixed as Forex Gump’s tie collection as it ended the day higher against the comdolls but lower against the euro, pound, and its fellow low-yielding currencies. What’s up with that?! Read more…

Euro (EUR)

Up, up, and… nope! Not yet! Just when we thought that the euro is headed for new highs, the bears attacked and made a dent on the common currency’s intraday gains. What the heck happened? Read more…

British Pound (GBP)

Slow and steady wins the race! A weaker-than-expected U.K. report had no fight against the pound bulls’ resilience as they pushed the currency higher against the dollar, euro, and the yen. Read more…

Japanese Yen (JPY)

Much like the Greenback, the low-yielding yen gained on the comdolls but lost out to the European currencies. USD/JPY and AUD/JPY slipped by a couple more pips but EUR/JPY and GBP/JPY managed to end the day in the green. Read more…

Canadian Dollar (CAD)

The Loonie continued to drop like a hot potato against its counterparts as comdoll aversion hit the already weak Canadian dollar. USD/CAD popped by another 42 pips after hitting an intraday high at 1.0439. Read more…

Australian Dollar (AUD)

Hang in there, mates! The Aussie received support in the early trading sessions but struggled to gain momentum in the later trading hours. Heck, AUD/USD and AUD/JPY even closed lower than their open prices! Read more…

New Zealand Dollar (NZD)

Like its comdoll buddies, the Kiwi had no chance against its high-yielding counterparts in the face of comdoll aversion. NZD/USD fell by 43 pips while NZD/JPY clocked in another red day. Read more…

Swiss Franc (CHF)

With the Greenback and the euro making their own waves, the franc had no chance at dictating its own price action. USD/CHF ended the day unchanged while EUR/CHF closed a few pips higher 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!