Daily Economic Roundup – August 17, 2010

What’s on the Economic Horizon

ZEW Economic Expectations to Disappoint?
Falling Demand for CAD Assets?
Building Permits and Housing Starts data on deck

United States

“Hakuna No-Dollah” was the resounding tune in the FX market yesterday as traders ended the dollar’s winning streak. EURUSD traded higher after it dipped to an intraday low of 1.2734. It peaked at 1.2872 before it closed at 1.2825, giving the dollar a 67-pip loss. More…

Euro zone

Yeah boy! It was a good start to the week for the euro, as it took advantage of the dollar bulls’ absence from the markets. Just in case you weren’t keeping count, the euro actually failed to post any gains last week! EURUSD rose 67 pips from its opening price to end the day at 1.2825. More…

United Kingdom

Finally, the pound is showing signs of life! It completed its back-to-back wins against the USD as GBPUSD rose 30 pips to finish at 1.5653 during yesterday’s trading sessions. More…

Japan

“I played you like a fool!” said the yen to the Greenback. It made a sucker out of its American counterpart during yesterday’s trading sessions as USDJPY dropped massive pips. It fell from its opening price of 86.10 and finished off at 85.33. More…

Canada

With risk aversion still chillin’ on the couch, the Loonie took a small hit to start the week. USDCAD rose 63 pips from its opening price. With the pair now sitting right below a major trendline, could we be in for some wild moves today? More…

Australia

“I wanna be a pipllionaire so freakin’ bad,” sung the Aussie as it finally broke free of the bears’ attacks. But it wasn’t an easy win as AUDUSD dipped to an intraday low of 0.8859 after it opened the week at 0.8940. The pair then reached an intraday high of 0.8995 and closed the day at 0.8973, ending the Aussie’s losing streak. More…

New Zealand

Aww yeah, guess who’s back! It ain’t only Slim Shady, but the NZD as well! NZDUSD recovered from an intraday low of .6998 and bounced back to close at .7074. Though it only recorded a 14-pip gain for the day, yesterday’s victory put an end to the USD’s five-day winning streak. More…

Switzerland

The Swissy went shop-pip-ing on the charts yesterday as EURCHF and USDCHF both traded lower yesterday. Thanks to risk aversion, it got a 115-pip bargain at the expense of the dollar and it continued its five-day winning streak against the euro, bagging 86 pips from it in yesterday’s trading. More…

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