Daily Economic Roundup – August 3, 2010

What’s on the Economic Horizon

US: PCE – Inflation Remains Subdued
Euro zone PPI – Producer Prices on the Rise?
UK Construction PMI to mirror Manufacturing version?

United States

Once again, we saw another round of risk appetite, which led to another down day for the dollar! It’s all science brotha! EURUSD closed another 100 pips higher at 1.3172, while GBPUSD continued its impressive run, as it finished 177 pips higher for the day at 1.5888. More…

Euro zone

“Let’s go euro, let’s go!” The bulls cheered for the shared currency as it continued its parade up the charts yesterday. EURUSD kick started the week at 1.3065 and traded higher to hit a new three-month high at 1.3196. The pair then ended the day at 1.3180 in favor of the euro. More…

United Kingdom

“We are the champions, my friends…” Like Queen’s all-time hit, the currency bulls showed that they had no time for losers yesterday as they boosted the Sterling higher across the charts. The pound rallied by more than 1% against the yen, dollar, and franc, with GBPUSD soaring by 177 pips from its open price at 1.5888. More…

Japan

“Risk aversion was so yesterday,” said the currency bulls after they dropped low-yielding currencies like the yen following the better-than-expected reports around the world. USDJPY gained 21 pips at 86.47 after an intraday high of 86.89, while EURJPY headed straight for 113.89 from its 112.68 open price. More…

Canada

Choo choo! All aboard the Loonie train! USDCAD traded lower yesterday after reaching an intraday high of 1.0302 at the start of the Asian session. It hustled all the way down to its six-week low at 1.0204, before closing the day with a 51-pip gain for the Loonie. Whoot whoot! More…

Australia

Huh?! What bad reports? It seemed that traders paid little attention to China’s weak manufacturing data when they bought the Aussie to its three-month high against the dollar. AUDUSD ended the day at .9124 after opening 68 pips lower at .9056. More…

New Zealand

The Kiwi has got it goin’ on with the bulls! NZDUSD opened the week at 0.7261 and rallied past the 0.7300 psychological handle. It peaked at 0.7342 before closing the day at 0.7330. More…

Switzerland

Ka-chow! The Swissy was blinded-sided by economic data from within its own borders, leaving the franc with mixed results in yesterday’s trading. EURCHF rose 100 pips from its opening price to close just below the 1.3700 handle, while USDCHF closed 11 pips lower at 1.03888. More…