Daily Economic Roundup – August 4, 2010

What’s on the Economic Horizon

ADP – US Employment Picking Up?
EU and IMF: “Greece Is Getting Sexier!”
UK Services PMI: Another Uh Oh?

United States

Call a doctor, quick! The Greenback’s looking really sick! It followed up its slow start to the week by losing ground against most of the other majors yesterday. Against the euro, it hit a three-month low as EURUSD closed at 1.3231, marking a 60-pip drop for the day. More…

Euro zone

The euro continued to bully and ka-pow! pips from its counterparts in yesterday’s trading as good ol’ risk appetite backed it up. EURUSD traded past the 1.3200 handle after opening at 1.3171. It reached a new three-month high at 1.3263 before it closed the day at 1.3233. Boo yeah! More…

United Kingdom

Mmmm.. Pound-o-licious! The bulls continued to munch on the currency yesterday, giving it its NINTH consecutive win against the dollar. GBPUSD now looks like it’s aiming for the 1.6000 handle after closing at 1.5948 yesterday and giving the Pound a 60-pip gain despite the disappointing PMI figures. More…

Japan

Sayonara, Yen bears! The bulls are taking over! The Yen took control of the charts yesterday, pushing USDJPY down to an 8-month low to close at 85.83 from its opening price of 86.47. More…

Canada

BORRRINGGG!!! With no major catalyst to spark any moves, USDCAD stuck within a tight range of just 18 pips! The pair finished exactly at it’s opening price of 1.0238. More…

Australia

Them Aussie traders sure know how to get jiggy! AUDUSD boogied down to an intraday low of .9071 before it shimmied up to an intraday high of .9150. At the end of the day, it rested at .9128, practically unchanged from its opening price. More…

New Zealand

“I’m takin’ it one pip at a time,” muttered the Kiwi as it gained 17 pips against the dollar yesterday and marked its fourth consecutive win against the Greenback. More…

Switzerland

While the franc remained steady against the dollar, it took another hit against the euro, thanks to poor CPI results. EURCHF finally broke through tough resistance at 1.3700, closing the day at 1.3751. More…