Daily Economic Roundup – July 27, 2010

What’s on the Economic Horizon

US Consumer Confidence Deteriorating?
German GFK Consumer Sentiment on Deck
UK CBI Realized Sales Increased This Month

United States

Greenback bulls could’ve cheered their lungs out and tumbled in the air, but it still wouldn’t have made a difference! Yesterday just wasn’t a good day to be a Greenback fan. A positive US report boosted confidence and dragged the dollar down against most of the majors. Versus its European counterpart, it didn’t even put up a fight as EURUSD climbed 115 pips to perch at 1.2994. More…

Euro zone

After the big waves caused by the EU stress tests last Friday, the euro floated near 1.3000 against the dollar yesterday. Too bad cautious trading prevented any sustained gains above the psychological mark. EURUSD ended the day at 1.2994 after opening at 1.2879. More…

United Kingdom
Do you smell what the Pound is cookin’? If you answered pips, then give yourself a pat on the back! After opening the week at 1.5421, the Pound wrestled the dollar and tapped its three-month high at 1.5520 before ending Monday at 1.5486. Boo yeah!
More…

Japan

Save for the dollar, the yen wasn’t able to bust pips out of its counterparts as risk sentiment improved. USDJPY consolidated around its opening price at 87.72 before it head down into the day’s low at 86.82. More…

Canada

With no economic reports from Canada to drive it around, the Loonie hitched a ride with risk appetite to make its way up to WinVille! Yesterday’s price action saw the Loonie rise against the USD for the third day in a row as USDCAD dropped from its opening price of 1.0372 to close at 1.0323 at the end of the day. More…

Australia

Good thing the Aussie bulls believed in the motto “losing is a state of mind” after they bought the currency despite the downside surprise in Australia’s economic data. AUDUSD paused its 79-pip climb near the 0.8970 mark before it closed at .9033. Meanwhile, AUDJPY dipped to an intraday low of 77.78 before closing 11 pips higher than its open price at 78.49. More…

New Zealand

“Ain’t no bear strong enough,” chanted the Kiwi as it pushed NZDUSD up the charts yesterday and earned itself a 91 pips against the dollar. More…

Switzerland

“Welcome to the party!” said the other major currencies to the Franc. It walked on over to the winners’ side of town yesterday as it started the week strongly against the USD, forcing USDCHF to fall from its opening price of 1.0552 and land at 1.0483. More…