Daily Economic Roundup – July 29, 2010

What’s on the Economic Horizon

US Unemployment Claims expected to have dropped last Week
German Employment Data Due
UK Housing Prices on deck

United States

Don’t count me out just yet! Yesterday, the disappointing US data tamed risk appetite in markets and boosted the dollar ahead of most major currencies. EURUSD failed another attempt to close above 1.3000 at 1.2986, while USDCAD ended the day at 1.0384 after an intraday low of 1.0256. More…

Euro zone

“Mayday, mayday! Abort 1.3000 mission!” The euro bulls failed to penetrate through the psychological handle for the fifth time this month as risk appetite retreated, and gave the bears the advantage in yesterday’s trading battlefield. More…

United Kingdom

I guess what they say is true – what goes up must come down! After scrambling up the charts four days in a row, the Sterling finally went down for the count during yesterday’s trading sessions. It started quite strongly, rising to an intraday high of 1.5640. But by the end of the day, it fell from the sky and GBPUSD dropped 10 pips from its opening price to close at 1.5585. More…

Japan

Move, get out of the way, the Yen’s coming through! Yesterday’s price action saw the Yen bully around all of the other major currencies as risk aversion struck the markets. USDJPY fell 52 pips from its opening price and landed at 87.97. More…

Canada

Is it time to land on the ground? After experiencing interest rate highs last week, it seems that risk aversion started weighing on the Loonie. USDCAD ascended 42 pips from its open price at 1.0384, while EURCAD ended the day at 84.13 after opening at 84.22. More…

Australia

“Aussie let us take you down. CPI’s the way to lose pips,” sang the bears as they pounced on the currency after the release of Australia’s inflation figures. AUDUSD fell almost a hundred pips from its opening price of .9021 before it ended the day at .8936. More…

New Zealand

All eyes were on the Kiwi late yesterday as the RBNZ was set to make its much-awaited interest rate decision. The central bank delivered with a 0.25% interest rate hike but the Kiwi still failed to perform, sending NZDUSD plummeting from .7327 to .7284. More…

Switzerland

The Swissy gained back some of its groupies yesterday after risk aversion took center stage in markets and turned the spotlight to low yielding currencies. EURCHF closed the curtains at 1.3723 after an intraday high of 1.3819. More…