Daily Economic Roundup – August 18, 2010

What’s on the Economic Horizon

UK MPC Minutes – Today’s Major Market Mover
New Zealand PPI – More Evidence for Rate Pause?

United States

Did anyone watch Pip Wars Episode III: The Revenge of the Pips in the charts yesterday? Risk appetite once again reared its head in markets yesterday, as evidenced by the rise of comdolls against the greenback and the dollar’s upsurge against its fellow low-yielding currencies. EURUSD went straight up to close 60 pips above its open price at 1.2880, while USDJPY climbed by 16 pips from its open price at 85.49 after tapping an intraday low of 85.12. More…

Euro zone

For the second consecutive day, the euro kept its head above water and posted gains versus the dollar. EURUSD closed 60 pips higher, to finish at 1.2883. Meanwhile, the euro also stopped the bleeding versus the franc, as yesterday marked the first time in 6 days that EURCHF rose. More…

United Kingdom

Aaand we’re back to our regular programming! Yesterday’s price action saw the pound go back to its losing ways after making modest gains to start the week. I guess it didn’t receive the memo about a risk rally as most of the other major currencies were able to gain ground against the USD. Cable fell 85 pips from its opening price of 1.5653. More…

Japan

Though no reports were published in Japan yesterday, a decline in Japanese stocks and words from the BOJ caused the yen to weaken… Just like kryptonite to Superman! USDJPY rose from an intraday low of 85.12 to hit a high of 85.68 before closing at 85.49. More…

Canada

Make way for the small guys! The Loonie bulls charged up the charts yesterday on a risk appetite rally and positive economic report from Canada that boosted the comdolls against the dollar. USDCAD went up by 118 pips from its open price at 1.0329. More…

Australia

Score one for the Aussie! Thanks to a healthy risk appetite, it was one of the biggest winners against the Greenback yesterday. The risk rally sent the comdoll brothers up the charts, with AUDUSD rising 79 pips for the day. More…

New Zealand

The Kiwi joined it’s com-doll brothers and trampled all over the USD yesterday. NZDUSD rose 60 pips from its opening price, to finish the day at .7118. Is this the beginning of a new bull run for the Kiwi? More…

Switzerland

Ouch! The franc took a hit from its major counterparts yesterday after a rally in risk appetite weakened the demand of the low-yielding currencies. USDCHF went up to a 1.0437 closing price after hitting an intraday low of 1.0362, and EURCHF went straight up to close 114 pips higher than its open price at 1.3443. More…