Daily Economic Roundup – July 20, 2010

What’s on the Economic Horizon
Housing Starts and Building Permits on Deck
BOC Expected to Hike Rates
UK CBI Industrial Survey Results Due

United States

After gapping lower to start the week, EURUSD managed to close 38 pips higher and close at 1.2944.It wasn’t all boo hoo for the Greenback though, as it gained against the yen, Pound and Swissy. If you ask me, its scorecard for Monday was as mixed as the movie reviews for Sorcerer’s Apprentice! More…

Euro Zone

Whoa! The euro was looking like Spiderman the way it climbed over mountains of bad news yesterday! From its opening price of 1.2906, EURUSD started a strong early rally to hit 1.2992 before finally settling at 1.2942. More…

United Kingdom

Last Sunday, the Rightmove housing data showed that UK’s Humpty Dumpties were sitting on cheaper walls. Was that why the pound had a great fall? More…

Japan

While the Japanese celebrated the blessings from their seas, traders across the oceans were undecided on their currency. The yen gained against the Loonie and the franc but lost 80 pips to the euro. USDJPY climbed 38 pips to 86.86 after opening at 86.48. More…

Canada

USDCAD opened the week at 1.0565 and went off to rally to the day’s high at 1.0582. It then went in favor of the Loonie, filling up the 20-pip opening gap and hit the day’s low at the 1.0500 handle. That was when the Loonie started singing, “pips like sugar, pips like sugar, this currency got you sprung, this currency got you -, “then it was cut short as the bears took away its gains and just finished the day at 1.0555. More…

Australia

“Don’t count me out just yet, baby!” said the Aussie to its forex fans. It bounced back from Friday’s big loss and marked a decent win over the Greenback to start the week. AUDUSD rose 42 pips to close at .8705 during yesterday’s trading sessions. More…

New Zealand

Unlike the other comdolls’ rise to fame, last Sunday’s better than expected services data from New Zealand failed to give the Kiwi enough star power against the dollar yesterday. NZDUSD closed at .7059 after an intraday high of .7114. More…

Switzerland

The lack of market-moving news may have kept the Swissy from skiing up the charts yesterday. Save for the yen, the currency lost against most of its major counterparts. GBPCHF, USDCHF and EURCHF and traded higher and closed the day costing the Swissy 35, 55 and 111 and pips, respectively. More…