Daily Economic Roundup – August 27, 2010

What’s on the Economic Horizon
Big Ben to Talk at Jackson Hole
German CPI on Deck
UK GDP – No Revisions?

United States

Too little, too late? Sentiments on the dollar put a crimp on its price action yesterday despite printing better-than-expected economic data. EURUSD capped the day off at 1.2716 after hitting an intraday high of 1.2765. Meanwhile, USDJPY remained below the psychological 85.00 handle after standing on its tippy-toes at an intraday high of 84.89. More…

Euro zone

The euro bobbed its head to the beat of risk sentiment yesterday, and finished the day with mixed results. EURUSD closed at 1.2728, after hitting a high at 1.2765. EURCHF on the other hand, dropped over 100 pips from its daily high at 1.3145, to finish the day at 1.3026. More…

United Kingdom

The pound proved to be the fiercer diva than the dollar as it pulled off a Pipyonce move on the charts yesterday. It was able to recover some of its losses from last Wednesday when GBPUSD closed 85 pips higher at 1.5533. Smokin’! Too bad the bulls weren’t able to shake the pound’s currency-booty past the 1.5600. More…

Japan

Pip-a-boo! Thanks to the lingering presence of risk aversion in the market, the yen was able to spook the bulls and snatch 29 pips from the dollar when USDJPY closed at 84.41. However, there wasn’t enough negative vibe in the market yesterday for it to scare pips out of the higher-yielding currencies. Boo! More…

Canada

The Canadian dollar finally had something to smile about, as it ended its 5-day losing streak versus the dollar yesterday. USDCAD fell 53 pips from its opening price to finish the day at 1.0567. Could this just be a breather before buyers come back push price back up? More…

Australia

Whew, that was close! Lingering risk appetite in markets boosted the Aussie against the dollar yesterday despite the release of less-than-stellar economic data from Australia. AUDUSD rose by 49 pips to a .8874 close after climbing to an intraday high of .8919. More…

New Zealand

The Kiwi was gettin’ some trader lovin’ yesterday. Don’t believe me? Just check out your NZDUSD chart coz like Shakira’s hips, pips don’t lie man. The bulls hustled the pair to its intraday high of 0.7090 after it opened at 0.6986. Boo yeah! However, the bulls seemed to lose their momentum during the New York session as the pair settled at 0.7031 by the end of the day. More…

Switzerland

And she’s done it again! The franc gained against its major counterparts yesterday as economic uncertainty continued to cloud the markets. EURCHF dropped 18 pips lower than its open price at 1.3026 after soaring to an intraday high of 1.3145. Meanwhile, USDCHF fell by 72 pips to a 1.0233 closing price. More…