Daily Economic Roundup – July 26, 2010

What’s on the Economic Horizon

UK Nationwide HPI Due This Week.
US New Home Sales On Tap.
RBNZ Rate Decision Later this Week

United States

“IT IS ON!” Tough luck, guys, it’s not the battle cry of cheerleaders, but a shout of the euro last Friday after the better than expected economic reports from the region and the Fed’s gloomy expectations for the US economy flipped the risk appetite switch on. More…

Euro zone

Euro bulls grooved to the tune of Gloria Gaynor’s “I Will Survive” as they ended the week victorious! Well, at least against most of euro’s counterparts. More…

United Kingdom

GBPUSD ended the week on a high note with a lot of help from improving fundamentals. The pair entered the weekend at 1.5422, about 160 pips higher than its weekly opening price. More…

Japan

With no reports providing a beat to dance to, the Yen was forced to improvise and dance to the rhythm of risk sentiment. Unfortunately, yen bulls had to two left feet and couldn’t find its groove, bringing the Yen to its knees against almost all of the majors. USDJPY posted a 46-pip gain last Friday and ended the week at 87.37. More…

Canada

The Loonie hitched a ride on the risk appetite train last Friday after the better-than-expected economic reports from euro zone boosted the demand for the comdollars. USDCAD ended the week 32 pips higher than its open price at 1.0361 after an intraday high of 1.0437. More…

Australia

The Aussie’s pip-gy bank got heavier last Friday thanks to the rally in equities and improved risk appetite. AUDUSD traded within a 76-pip range above the .8900 handle last Friday and closed the week with a 40-pip gain for the Aussie. More…

New Zealand

It ain’t no party unless the Kiwi’s invited! Joining the rest of Friday’s winners was the Kiwi, which got a boost from a bout of risk-taking. NZDUSD rose 25 pips from its opening price to rest at .7271 for the week. More…

Switzerland

It’s a TKO! The franc got boxed out of the pip-ring last Friday after a strong punch of risk appetite knocked the franc down against the euro, dollar, and even the yen. EURCHF hit the hardest with its 168-pip gain from its open price at 1.3605. More…