Daily Economic Roundup – July 23, 2010

What’s on the Economic Horizon
EU Stress Test Results on Today’s Docket
UK to Post Stronger Growth in Q2
Canada’s Inflation Reports Due

United States

The dollar seemed a little pipsy as if the mix of good and bad news yesterday was a bit too much to chug. Midway through the London session, the bulls came in charging and pushed the pair to the intraday high of 1.2931. The day ended with the dollar sustaining a 117 pip loss against the euro. More…

Euro Zone

Boom boom pow, baby! The euro’s back and booming! Yesterday’s price action saw renewed life in EURUSD as it zoomed up the charts. By the end of the US trading session, it had climbed 117 pips and perched at 1.2885. More…

United Kingdom

Score one for UK! Spain may have won the 2010 FIFA World Cup, but UK bagged another prize yesterday after the sport-related purchases kicked the retail sales upward and boosted the pound. EURGBP climbed by 25 pips at .8442 from its open price, while GBPUSD rocketed to a 1.5264 close after an intraday low of 1.5151. More…

Japan

“Retreat! Retreat! The enemy has weakened!” said the BOJ after yesterday’s rally in risk appetite pared off the yen’s gains last Wednesday. USDJPY rocketed to 86.91 after plunging to an intraday low of 86.34, while EURJPY flew 156 pips from its intraday low at 111.98. More…

Canada

Did you see the Loonie drive a Gallardo Pipborghini down the charts yesterday?! USDCAD traded lower after opening at 1.0478 as the 1.0500 handle proved to be a stronger resistance than the bulls imagined. The pair closed yesterday at 1.0393 with an 89-pip win for the Loonie. More…

Australia

“I am Aussie, hear me roar!!!” Just like the wolverine (either the animal or Hugh Jackman, whichever you prefer), the Aussie was beastly on the charts yesterday! It tore right through its American counterpart, ramming AUDUSD up 149 pips to .8931, and forging a new two-month high! More…

New Zealand

Fly, Kiwi, fly! The New Zealand dollar soared across the charts yesterday after the better than expected reports from the euro zone pumped up the risk appetite and boosted the demand for the comdollars. The Kiwi rocketed by 149 pips against the dollar at .7246 from its .7136 open price. More…

Switzerland

USDCHF traded down the charts yesterday after it opened just above the 1.0500 handle and reached the day’s low at 1.0395. However, the mighty Swissy, as I like to call it, wasn’t able to push the common currency further below the 1.0400 handle, and closed the day at 1.0430. More…