Daily Economic Roundup – August 10, 2010

What’s on the Economic Horizon

Is the Fed Considering Quantitative Easing Part 2?
UK Trade Deficit to Have Hit 7.8 Billion GBP in June
BOJ: Widely Expected to Keep Rates at 0.10%

United States

The Greenback must’ve had a good rest over the weekend! Slowly but surely, it regained much of last Friday’s losses during yesterday’s trading sessions. You could even say it owned the charts with the way it beat most of the other major currencies! The Greenback had an awesome start to the week against the euro as EURUSD fell 68 pips within the day to end at 1.3228. More…

Euro zone

“It’s a wrap!” said the markets yesterday after they closed their long EURUSD positions ahead of the FOMC meeting later today. This sent EURUSD plunging by 68 pips from its open price at 1.3228. Good thing EURJPY reflected the region’s favorable trade data after it ended the day 20 pips below its open price at 113.60. More…

United Kingdom

After its magnificent run bullish last week, the pound kicks off this week on a weak note and goes under 1.5900 against the dollar again. Hmm, is this a simple case of profit taking? We’ll just have to wait and see! More…

Japan

The yen turned out to be the biggest loser in yesterday as it lost out against most major currencies. The USDJPY, GBPJPY, EURJPY, AUDJPY, and even the CADJPY were able to post gains in yesterday’s trading session. More…

Canada

“All for one and one for all!” With no data from Canada yesterday, the Loonie joined the three comdoll Pipsketeers, which all suffered a minor loss against the dollar. USDCAD ended the day at 1.0268 after reaching an intraday high of 1.0300. More…

Australia

C’mon Aussie old boy! You gotta step up yo’ game! After a brief and minor rally during the Asian trading session, it allowed the USD to walk all over it, causing AUDUSD to close at .9167, 19 pips lower for the day. More…

New Zealand

It’s not all zzz’s over in NZ yesterday when the dollar gained 42 pips against the Kiwi despite the lack of data from the country. NZDUSD closed at .7286 after reaching an intraday high of .7346. More…

Switzerland

“Swiss cheese for everyone!” screamed the bears after the Swissy slipped and fell hard in its battle against the USD. USDCHF wound up 113 pips higher for the day and finished at 1.0488. More…