Daily Economic Roundup – July 2, 2010

What’s on the Economic Horizon
NFP Payrolls Back to Negative?
UK Construction PMI Due
Euro Zone Unemployment Rate Steady at 10.1%

United States

Ack! The Greenback was off to a bad start this July as it fell against the rest of the major currencies. Judging from the weak US economic figures released, it seems that traders are starting to doubt whether the US could sustain its recovery. More…

Euro Zone

KA-CHING! Nope, that wasn’t the sound from a wanna-be Car character, but the sound of euro cash registers ringing yesterday! After hitting an intraday low of 1.2195, EURUSD rose more than 300 pips to close at 1.2518. Ka-ching, ka-ching! More…

United Kingdom

Thanks to weak economic reports from the US, the bulls were able to buy up Cable like ice cream on a hot summer day. From an intraday low of 1.4874, Cable flew more than 300 pips to close the US trading session at 1.5182. More…

Japan

When optimism in the global economy hits the market, what usually happens? That’s right, the yen falls across the board…. Yesterday was no different, as the yen gave up some ground against the pound, the euro and the Aussie. More…

Canada

While other major currencies posted stellar gains over the Greenback, the Loonie trade sideways and traded within a 100-pip range. The USDCAD ended the day the US trading session at 1.0598, roughly 50 pips lower from its Asian session opening price. More…

Australia

It looked like the Aussie was going to drown earlier in the day, but thanks to broadbased dollar weakness, AUDUSD was able to keep its head above water (chartwise, quite literally). After testing as low as .8317, AUDUSD formed a nice hammer, to close above a key Fib level at .8436. More…

New Zealand

Phew! After three straight losses to start the week, the Kiwi finally held off the dollar and kicked its buck (haha get it? Buck..butt.. okay nevermind). Well, that ain’t entirely accurate – the dollar just sucked yesterday! NZDUSD climbed over 100 pips from its lows for the day to end just above the .6900 handle. More…

Switzerland

You win some, you lose some. That’s probably what the Swiss franc thought when it scored some gains against the Greenback but lost ground to the euro. At the end of the day, USDCHF closed at 1.0677 while EURCHF landed at 1.3282. More…

  • blackzero

    you guys are good in what you do and damn funny, this is hilarious !!

  • blackzero

    you guys are good in what you do and damn funny, this is hilarious !!