Daily Economic Roundup – August 13, 2010

What’s on the Economic Horizon
US CPI, Retail Sales, Consumer Sentiment Data Due
Euro Zone GDP to Print Stronger Growth
Swiss Producer Prices to Post 0.2% Rebound?

United States

Make that three in a row! The Greenback squashed its major counterparts in yesterday’s trading as risk aversion continued to prowl the markets. However, its strength seemed to fade as the yen, Aussie, and franc put up a strong fight during the European and US session. More…

Euro Zone

Sheesh, not again! The euro recovered some its losses against the dollar in the early trading sessions, but the disappointing economic reports from the euro zone sent the euro bouncing down the charts. After rallying to an intraday high of 1.2933, EURUSD plunged back to close at 1.2827. More…

United Kingdom

There’s no stopping the pound bears! They imposed their will over the bulls again yesterday to chalk up their fourth straight daily victory. GBPUSD fell another 90 pips from its opening price to finish the day at 1.5568. More…

Japan

As my dad always says, “Try and try until you succeed!” Once again, buyers tested the 85.00 handle yesterday, but failed to push USDJPY past the significant support as the pair settled 51 pips higher at the end of the day. More…

Canada

Don’t be lonely, Loonie! You’re not alone in your battle against the dollar! Worse-than-expected economic reports from Australia and the euro zone failed to ease risk aversion yesterday, and extended the loss of the Loonie against the low-yielding dollar. The Canadian dollar lost 33 pips against the dollar at 1.0423, but gained 95 pips against the euro at 1.3373. More…

Australia

The Aussie was able to parry most of the Greenbacks attacks yesterday, but in the end it still tasted defeat. Ouch! Aussie sellers licked their chops as AUDUSD dropped 24 pips from its opening price to land at .8963. More…

New Zealand

Fresh news! Get ‘em while they’re hot! A few hours ago New Zealand released the retail sales figures for June, which revealed a 0.9% rise from May’s 0.4% upsurge. Core retail sales, too, made the Kiwi bulls happy after it increased by 1.5% after declining by 0.2% last May. Hmm, will this help ease the Kiwi’s losses yesterday? More…

Switzerland

“Not so fast!” yelled the Swissy to the Greenback yesterday as it fought back to recover some of its recent losses. After reaching a high of 1.0628, USDCHF tumbled to the 1.0500 area later on. More…

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