Article Highlights

  • U.S. ADP report clocks in at 191K vs. 195K expected (last month’s data revised from 139K to 178K)
  • U.S. factory orders rises by 1.6% vs. 1.2% uptick expected (last month’s data revised from -0.7% to -1.0%).
Partner Center Find a Broker

The Greenback was king of pips in yesterday’s U.S. session trading as Uncle Sam’s reports hinted at a strong NFP release on Friday. Heck, investors even shrugged off the weak factory orders report in their optimism! EUR/USD was pushed to the 1.3750 area while GBP/USD tested its intraweek lows. Even USD/JPY is getting attention as it’s already near the 104.00 and 105.00 psychological zones.

Comdoll price action wasn’t as exciting as other pairs though. AUD/USD, USD/CAD, and NZD/USD mostly stayed in their London session levels after getting hit hard in the Asian session.

Today’s a big day for the major currencies and not just because the BOE and ECB will release their monetary policy decisions. Just minutes ago Australia had printed a weaker-than-expected retail sales report and a stronger-than-expected trade balance data. China had also released its services PMI, which came in slightly weaker than last month.

The day’s just getting started! RBA Governor Glenn Stevens still has a speech scheduled at 2:00 am GMT. Keep an eye out for remarks about the Aussie’s strength and Stevens’ opinions on economic recovery.

Good luck and good trading, forex junkies!

See also:

London Session Recap

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!