Daily Economic Roundup – August 2, 2010

What’s on the Economic Horizon

ISM manufacturing PMI Expected to Rise to 54.5
UK manufacturing PMI on deck today
Swiss Retail Sales To Have Risen 4.1% in June

United States

Hee haw! The dollar starred in Friday’s “Wild-Wild-Pips”-themed trading as the financial market ended July with a showcase of volatility. EURUSD peaked at 1.3094 before it tumbled down to the day’s low at 1.2980. It then traded higher and closed the day above the 1.3000 handle but still gave the dollar a 46-pip win. More…

Euro zone

What a sad way to end a month of wins! Though it made great gains in July, the euro finished the month on a sour note as it tasted defeat against most of the other major currencies. EURUSD slipped 46 pips from its opening price last Friday to close at 1.3032. More…

United Kingdom

“It’s gonna take a lot more to rain on our parade!” said the Pound bulls last Friday after they went on with their buying spree despite weak economic data from the UK. GBPUSD ended the week at 1.5691 after hitting an intraday low of 1.5552. Meanwhile, EURGBP dropped 72 pips from its open price at .8305. More…

Japan

Hah! Who’s the weakling now?!? Last Friday the yen won the battle of bad economic data after worse-than-expected reports across the oceans weighed heavier than Japan’s own disappointing data. Risk aversion sent the traders to the low yielding yen, and pushed USDJPY 45 pips lower than its open price at 86.39. Meanwhile, EURJPY fell 121 pips from its 113.80 intraday high at 112.59. More…

Canada

The Loonie pip-trotted on the bulls’ turf last Friday despite weaker-than-expected GDP figures for the second quarter. USDCAD grooved to an intraday high of 1.0376 before the Loonie stepped-up and led the pair to the week’s close at 1.0282. More…

Australia

Let’s put another shrimp on the barbie! Aussie bulls were partying their hearts out last Friday in celebration of another AUD victory over the Greenback. AUDUSD skipped and hopped its way up to .9067 to record a 20-pip gain for the day. More…

New Zealand

Are the bad times over for the Kiwi? After taking a huge dive on RBNZ’s dovish comments last week, the Kiwi managed to gain 18 pips against the dollar on better-than-expected economic data last Friday. NZDUSD ended the week at .7256, while EURNZD closed 106 lower than its open price at 1.7958. More…

Switzerland

Bust it Swissy! The Swissy sped through the piplane fueled by rumors of an intervention from the SNB and by optimism on the nation’s leading economic indicators. It reached its week’s high against the euro at 1.3509 and its five-month high against the dollar at 1.0362. Boo yeah! More…