Daily Economic Roundup – July 15, 2010

What’s on the Economic Horizon
US Data to Provide Direction Today
BOJ Rate Decision Tonight
Swiss ZEW Economic Expectations Due

United States

The dollar got dumped again yesterday as the bulls saw that it wasn’t the Greenback that was bringing sexy back with ’em pips. After opening at 1.2716, EURUSD peaked at 1.2778 before ending the day at 1.2738. Currency traders also drove GBPUSD up the charts giving the Greenback its biggest loss of 96 pips. More…

Euro Zone

Did you check out the action on EURUSD yesterday? The markets went gaga for the euro thanks to poor US retail sales and the Fed’s gloomy economic outlook for the US economy! After ranging for most of the day, EURUSD burst upwards from its opening price of 1.2715 to reach an intraday high of 1.2778. More…

United Kingdom

“Let’s get ready to rumbleeeee!!!” The Sterling became the pound-pip-pound heavyweight champion after it extended its gains against the majors yesterday. The pound knocked the dollar down by 89 pips and closed at 1.5266, while the euro took a 36-pip hit from its opening price and ended the day at .8348. More…

Japan

The yen was a witness to the Asian power yesterday when it gained across the charts after the release of good economic data from Asian countries. USDJPY fell 51 pips from its intraday high at 88.40, and EURJPY ended the day 24 pips down from its open price at 112.67. More…

Canada

USDCAD started the day strong at 1.0337 but it seemed like the grizzlies went on a recess and the Care Bears took over. The pair was unable to trade past the 1.0300 handle and advance any further from the day’s low of 1.0287. It closed at 1.0343 with only a 6-pip win for the Loonie. More…

Australia

Whoa! Check out the Aussie hanging ten! The Aussie was caught surfin’ its way up the charts yesterday, after the release of the Westpac consumer confidence data. Cowabunga! AUDUSD took a cool 27-pip ride up to close at .8827 at the end of yesterday’s trading sessions. More…

New Zealand

“It goes on and on and on and on… Don’t stop…believing…” Despite posting a weak retail sales data early in the week, Kiwi bulls were as optimistic as Glee club members, as they have been able to sustain its rally against the dollar since last week. NZDUSD ended the day at .7242 after dropping to an intraday low of .7160. More…

Switzerland

The Swissy was able to somehow turn ’em dollar bulls into bears yesterday. USDCHF traded higher during the Asian session after opening at 1.0548. It peaked at 1.0618 when the London session started but traded downwards for the remainder of the day and closed at 1.0535. Who says the dollar can’t be tamed? More…