Daily Economic Roundup – August 5, 2010

What’s on the Economic Horizon

ECB Rate Decision – Trichet All Smiles?
US Weekly Unemployment Claims on Deck
BOE Rate Decision: Will Someone Join Andrew Sentance?

United States

Touch down USD! It was able to obtain its first victory of the week against the euro, thanks to an awesome assist from positive US economic data. EURUSD ran up the charts starting from the 1.3231 yard line and locked in a win for the USD when it reached the end zone at 1.3164. More…

Euro zone

Chalk one up in the loss column for the euro! EURUSD failed to make any significant moves from its opening price, and ended the day 67 pips lower for the day. More…

United Kingdom

Mama Mia! The pound lost a lot of weight against the dollar yesterday, but no, it’s not because the UK economy is getting fit and healthy. The disappointing services data spoiled another attempt to reach GBPUSD’s 1.6000 psychological handle when the pair closed 52 pips lower than its open price at 1.5895. More…

Japan

Whew, that was a close one! The BOJ can rest for another day as yesterday’s yen weakness lessened pressures for a currency intervention. Positive economic reports enabled the yen to drop by 44 pips against the dollar at 86.27. Meanwhile, EURJPY and GBPJPY pared off their losses from earlier in the day at 113.57 and 137.13 respectively. More…

Canada

Unchartered territory! Okay fine, not really unchartered, but it’s been awhile since USDCAD dipped below the 1.0200 mark. The Canadian dollar hit a 6 week high, as USDCAD fell over 60 pips to close at 1.0177. Another step back towards parity perhaps? More…

Australia

“I’m on top of the wooorld!” screamed the Aussie as it climbed for the fifth straight day. Better-than-expected economic figures sent AUDUSD up 44 pips from its opening price to finish at .9171. More…

New Zealand

Stop the press, hot news comin’ through! After ending the 60-pip range at .7352 against the dollar yesterday, Kiwi saw some action with New Zealand’s employment reports a few hours ago. More…

Switzerland

Ouch! That’s gotta hurt! The franc slipped and fell hard as USDCHF marched strongly up the charts to end 135 pips higher for the day. More…