Daily Economic Roundup – July 28, 2010

What’s on the Economic Horizon
RBNZ to Hike Rates by 0.25% Again?
US Durable Goods Orders Data Due
BOE Governor King Set to Testify Today

United States

The dollar pulled off a Miley Cyrus in yesterday’s trade as it showed investors that it can’t be tamed from getting those pips! It gained against the yen, franc and the Loonie but was still unable to move its currency hips like “Yeah!” to knock the Pound and euro down the charts. More…

Euro Zone

Try and try until you succeed! Yesterday, EURUSD once again failed at the 1.3000 level which has held the pair prisoner since May 2010. But it looks like it’s getting closer to breaking out of its cage! The pair settled just above the resistance at 1.3003, after reaching an intraday high of 1.3047. More…

United Kingdom

Even though California girls have their daisy dukes with bikini tops on, there’s no lack of summer lovin’ in UK. In fact, UK’s summer sales data even brought the pound bulls out in the sun, with GBPUSD puttin’ its hands up to a 1.5595 close after an intraday low of 1.5443. More…

Japan

Finance Minister Yoshihiko Noda must be thanking his good ol’ buddy risk appetite for depreciating the yen against all major currencies yesterday. Better-than-expected economic reports across the world boosted risk appetite in markets, and brought USDJPY 106 pips up from its open price at 87.96. EURJPY, too, rocketed to a 114.36 close after opening at 112.93. More…

Canada

“No no Loonie, no no-ooh.” Too bad the Loonie didn’t have the same charisma on investors in yesterday’s trade as the Canadian pop sensation, Justin Beiber, has on the ladies. More…

Australia

“It stops at three!” said the USD to the Aussie as AUDUSD failed to climb for the fourth straight day. In the end, the pair finished at .9022, just 10 pips below its opening price. More…

New Zealand

Oh, and it was so close! After tapping a six-month high against the dollar at its intraday high of .7367, NZDUSD ended the day 40 pips lower at .7327. More…

Switzerland

Swissy-who? Investors seem to have forgotten the Swissy in yesterday’s trade as it lost to most of its rivals. USDCHF skyrocketed up the charts during the London session breaking past 1.0500 and 1.0600 handles. It reached the intraday high of 1.0641 before it closed the day at 1.0602. More…