Daily Economic Roundup – August 31, 2010

What’s on the Economic Horizon

US Consumer Confidence on the Rise?
Improving Lending Conditions in the UK?
CAD: Monthly GDP on Deck

United States

Summer may be almost over, but the dollar’s price action yesterday suggested that the risk aversion’s heat is still on till the break of dawn. The greenback lost against the yen and the franc, but gained on the pound and the euro. EURUSD went straight down by 96 pips from its open price at 1.2665. Meanwhile, USDJPY capped the day off at 84.56 after peaking at an intraday high of 85.91. More…

Euro zone

Whew! The euro sold off like lemonade on a hot summer day yesterday! Though confidence improved in the euro zone, risk aversion was still behind the EURUSD wheel, driving the pair lower and erasing its gains from last Friday. At the end of the day, EURUSD closed at 1.2665 to lock in a 96-pip loss. More…

United Kingdom

With the London markets closed, the pound started off the week on a sour note, as risk aversion took over markets. GBPUSD dropped 100 pips from its highs for the day, closing at 1.5461. Could this be a sign of worse things to come later this week? More…

Japan

Did you see that awesome blockbuster in your charts yesterday? “The Lord Of The Pips: The Three Towers” captivated the markets yesterday as the yen gained on its major counterparts after the BOJ’s announcement. USDJPY peaked at 85.91 before tumbling down to 84.56, and EURJPY climbed all the way to in intraday high of 109.56 before dropping to 107.08. Meanwhile, GBPJPY fell to a 130.72 close after rising to as high as 133.62. More…

Canada

Oh, Loonie! You’re gonna send Loonie bulls to the loony bin with the way you’ve been acting! To the dismay of Loonie fans, USDCAD quickly scrambled up the charts as Canada released mixed data alongside the US’s worse-than-expected reports. At the end of the day, the pair closed 104 pips above its opening price of 1.0500. More…

Australia

Weee!!! AUDUSD slid down the pip-charts yesterday despite Australia’s mixed reports. The pair dropped by 106 pips from its open price at .8921 as risk aversion trumped all economic reports from the commodity-related economies. More…

New Zealand

After gapping up over the weekend, not only did NZDUSD close the gap, but it headed much lower down the charts. The Kiwi closed 70 pips lower for the day, as it dove down past the .7100 handle to close at .7075. More…

Switzerland

The Swissy walked tall and with swagger as it recorded wins against the two largest currencies yesterday. It gained 113 pips against the euro while edging out 13 pips versus the Greenback. More…