Daily Economic Roundup – August 9, 2010

What’s on the Economic Horizon

Fed Expected to Keep Rates Unchanged at 0.25%
German Trade Balance on Deck

United States

The Greenback just can’t catch a break, can it?! It was pinned by all the other major currencies last Friday as weaker than expected non-farm payroll data forced it into submission. Just like how Chael Sonnen tapped out to Anderson Silva, the Greenback had no choice but to give in to its nemesis, the euro, causing EURUSD to rise 103 pips for the day. More…

Euro zone

The euro kicked butt like Angelina Jolie in Salt as it ka-powed pips out of its counterparts during Friday’s trading. EURUSD started the day at 1.3186 and consolidated below the 1.3200 handle all throughout the Asian session. It wasn’t until the New York market opened that the euro bulls gained the upper hand against the bears and launched the shared currency to its new three-month high at 1.3334. The euro then bid its hasta la vista against the dollar with a 103-pip gain. Boo yeah! More…

United Kingdom

It’s all about economic data for GBPUSD! Last Friday, after drifting within a tight range the entire Asian trading session, GBPUSD burst into life once economic data started coming in. The pair fell initially to 1.5845 due to disappointing economic figures from the UK but the losses didn’t last long as the pair was able to regain all of the ground it gave up and even post new yearly highs on worse US data. More…

Japan

With the way it flexed its muscles last Friday, I’m betting the yen is on some crazy steroids! Give me some! Just kidding, I’m already buff enough! To end the week, USDJPY dropped massive pips, falling from its daily opening price of 85.82 to reach an intraday low of 85.02. More…

Canada

Boo hoo! The Loonie didn’t get any lovin’ from investors last Friday as it was the only major currency that lost against the dollar. After opening at 1.0168, USDCAD dipped to its intraday low at 1.0147. That was the highlight of the Loonie’s day as the bulls then hustled to the pair to reach the week’s high at 1.0307. More…

Australia

Gimme an A! Gimme a U! Gimme a D! What do you have?! A winner! Friday’s price action on AUDUSD saw the Aussie trounce the Greenback. Aussie bulls cheered on the currency as the pair rose 36 pips to rest at .9188 for the weekend. More…

New Zealand

Much like other major currencies, the Kiwi was able to find a lot of buying support when the US printed very disappointing NFP figures. NZDUSD’s gains were minimal though, as it ended the day at .7328, a mere 40-pip gain from its opening price. More…

Switzerland

The Swissy’s 88-pip gain against the dollar last Friday was a cakewalk! However, the same thing couldn’t be said about the euro. After opening at 1.3794, EURCHF traded higher and peaked at 1.3848. Then just as the euro was enjoying the view from the top of the charts, the Swissy snatched control of the pair and drove it to intraday low of 1.3747. More…