Daily Economic Roundup – August 16, 2010

What’s on the Economic Horizon

Euro Zone Core CPI expected to rise to 1.0%
CAD: CPI Due on Friday – More Evidence for Rate Hike?
Empire State Manufacturing Index on USD Playlist today

United States

Talk about piptastic! The dollar continued its winning streak against most of its counterparts in Friday’s trading. EURUSD traded lower after it peaked at 1.2907 and closed the week at 1.2753, giving the dollar a 74-pip win against the euro. Fist bump, whaddup! More…

Euro zone

Nice try, ‘ol pal! The euro continued to slide against its major counterparts last Friday after reaching intraday highs from the euro zone’s positive economic reports. EURUSD ended the week at 1.2753, its lowest in 3 weeks, after an intraday high of 1.2907. Meanwhile, EURJPY closed 13 pips lower than its open price at 110.05 after climbing to an intraday high of 111.12. More…

United Kingdom

Don’t count me out just yet! The pound managed to sneak in gains against the dollar and the euro last Friday despite the cloud of risk aversion still looming above the markets. GBPUSD retained some of its gains at 1.5593 after rising to an intraday high of 1.5680, but EURGBP fell 53 pips from its open price at .8179. More…

Japan

It seems like the BoJ’s intervention talks are scarier than the Cryptkeeper’s ghost stories. Just check out how the yen continued its losing streak against the dollar last Friday! After reaching an intraday low of 85.57, USDJPY scrambled up the charts and peaked at 86.38. It ended the week at 86.29 with the yen sustaining a 39-pip loss. More…

Canada

It sure looks like that trendline on USDCAD is holding! The Loonie remained resilient in the face of dollar strength last Friday. The pair closed at 1.0416, after managing to trade as low as 1.0348 in intraday trading. More…

Australia

Without any economic report from Australia last Friday, the Aussie was left vulnerable to the market’s negative risk sentiment. The Aussie bulls hustled AUDUSD to an intraday high of .9036 only to get trampled by the bears during the London session. Tsk, tsk. The pair ended the week at .8931 giving the Aussie a 28 pip loss. More…

New Zealand

Up, up, and….no way? Did the Kiwi change its flight plan last Friday? NZDUSD rose to as high as .7183 after New Zealand’s retail sales went up by 0.9% last June from May’s 0.4% growth, but the pair went back down to a .7054 closing price after risk aversion reigned supreme over markets once again. More…

Switzerland

Given all the fireworks across the board, I’d say that movements in USDCHF were relatively quiet. The pair stuck within a tight range of less than 70 pips, closing the day 19 pips higher. Still, this didn’t prevent the franc from busting a move against the euro. EURCHF dropped for the 4th consecutive day to end the week almost 400 pips lower. More…