Daily Economic Roundup – July 21, 2010

What’s on the Economic Horizon

BOE Meeting Minutes in Focus
Spotlight on Bernanke Tonight
Canadian Wholesale Sales on Deck

United States

The dollar’s price action yesterday was as mixed as the colors of M&Ms after traders played tug-of-war with risk appetite. The dollar lost to the pound and the franc, but gained 58 pips on the yen. Meanwhile, EURUSD locked in at 1.2893 after tapping an eight-week high of 1.3029. More…

Euro zone

Oh, oh, oh, oh, oh, oh, oh… Uh oh-euro-oh my gosh! After opening at 1.29473 yesterday, EURUSD traded higher pop, pop, popping to its 10-week high of 1.3029. Then it started drop, drop, dropping to the intraday low of 1.2839 before closing at 1.2882. More…

United Kingdom

I hope you didn’t get motion sickness from all the wild moves we saw from Cable yesterday! Traders were in for quite a ride on the GBPUSD train as it started the day off at 1.5233, plunged down to 1.5154, and closed at 1.5282. More…

Japan

It’s alright, Yen old boy! It was just one of those days! The Yen was the weakest link in yesterday’s trading sessions as it managed to lose against ALL the majors. Ouch! The Yen continued with its slow start to the week as USDJPY posted a 58-pip gain and landed at 87.44 at the end of the day. More…

Canada

“We did it!” The BOC pulled off a Dora the Explorer yesterday after they increased their interest rate by 25 basis points to 0.75%. This caused the Loonie to soar 98 pips against the dollar, 128 pips to the yen, and 179 pips to the euro. Now that’s excelente! More…

Australia

Did you see the Aussie sprint up the charts yesterday like a Tasmanian devil running after its dinner?! AUDUSD opened just barely above the 0.8705 handle and reached an intraday high of 0.8839 and closed the day only 7 pips below it. More…

New Zealand

Whoever said size matters clearly doesn’t know the Kiwi! Taking after its bigger comdoll brothers, the Kiwi walloped the mighty USD on the charts as the NZDUSD rose 92 pips to .7159 yesterday. More…

Switzerland

Good day for them Swiss bulls yesterday eh? The franc popped higher against both the euro and dollar, with EURCHF and USDCHF closing 88 and 25 pips lower respectively. More…