Daily Forex Fundamentals – October 31, 2013

What’s on the Economic Horizon
Fed not as dovish as expected
RBNZ keeps rate hike plans in 2014
U.K. manufacturing PMI on tap

U.S. Dollar (USD)

Who let the dollar bulls out? The Greenback scored pips against its counterparts after the Fed printed its FOMC statement. What the heck did they say? Read more…

Euro (EUR)

The euro might have lost pips against the dollar, pound, and the franc, but it sure gained pips on the yen! What the heck caused the mixed price action anyway?! Read more…

British Pound (GBP)

Thanks to the lack of reports from the U.K, the pound’s price action was as mixed as costumes in a Halloween party. GBP/USD lost 10 pips while GBP/JPY ended the day 61 pips higher than its open price. Read more…

Japanese Yen (JPY)

Down for another day! The low-yielding yen weakened across the board on an improvement in the Asian markets. USD/JPY reached the 98.50 area while EUR/JPY popped up by 50 pips. Read more…

Canadian Dollar (CAD)

Aaand the losses continue! The Loonie dropped for another day against the Greenback as USD/CAD capped the day 16 pips higher than its open price. Did this have anything to do with Canadian reports? Read more…

Australian Dollar (AUD)

Saved by a bit of optimism! Unlike most of the major currencies, AUD/USD didn’t end the day in the red. Not only that, but AUD/JPY also posted significant gains! Read more…

New Zealand Dollar (NZD)

Just like the Aussie, the Kiwi was able to skirt losses against its counterparts. I’ll give you two guesses at the factors that boosted the comdoll. Read more…

Swiss Franc (CHF)

While other currencies ended the day with decisive moves against its counterparts, the franc moved in all directions against the dollar and the euro. USD/CHF spiked both ways before ending the day 4 pips above its open price. Meanwhile, EUR/CHF closed with a 5-pip loss. 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!