Daily Economic Roundup – July 14, 2010

What’s on the Economic Horizon
US Retail Sales Down by 0.2%
Euro zone CPI on Tap
BOJ Widely Expected to Keep Rates Steady

United States

Yesterday, the USD was rocked by the one-two combo of the successful Greek debt auction and poor US data. EURUSD leaped from its opening price of 1.2592 to finish at 1.2715, marking a 123-pip gain for the day. More…

Euro zone

“ζητωκραυγάζω Ελλάδα!” might not be as catchy as “Viva España!”, but Greece also deserves a cheer after their better-than-expected bond auctions boosted the euro despite the region’s poor economic reports. EURUSD jumped 128 pips from its open price and closed at 1.2724, while EURJPY closed only 2 pips lower than its intraday high of 112.93. More…

United Kingdom

“Reunited and it feels so goooood,” sang the Pound as it finally escaped to the bulls turf yesterday after hanging out with the bears for three straight days. GBPUSD opened at 1.5030 and consolidated there until the bulls came charging in during the London session. The pair skyrocketed to the day’s high at 1.5192, and settled down at the end of the day at 1.5168. More…

Japan

Save versus the dollar, the yen lost in its pip-battles against most of its major counterparts yesterday. While the yen was able to steal 12-pips away from the dollar, the currency posted triple-digit pip against the euro and the pound. More…

Canada

Thanks to risk appetite, the Loonie took flight! (Hey, that rhymes!) The bout of risk-taking pushed the USDCAD down from its opening price of 1.0376 to an intraday low of 1.0277, before finally settling at 1.0338. More…

Australia

Like the country’s famous animal, the traders were hopping into the Aussie bandwagon. The Australian dollar trimmed off its losses in the early trading sessions yesterday after the better than expected Greek bond auction boosted the appetite for high-yielding currencies. AUDUSD ended the day at 0.8842 after hitting an intraday low of 0.8746. More…

New Zealand

All the commodity currencies-the Aussie, Kiwi and Loonie-rallied against the dollar yesterday but the Kiwi stood out as the most beautpipful them all. NZDUSD opened at .7106 and slipped below the .7100 psychological handle to reach the day’s low at .7078. It then shot up to reach the day’s high at .7207 before it ended the day at .7187. More…

Switzerland

Though the CHF was bullied by most of the other majors yesterday, it managed to push around the Greenback. In the end, USDCHF ended 58 pips lower for the day at 1.0548, with much help from poor US data. More…