Daily Economic Roundup – July 8, 2010

What’s on the Economic Horizon

US Weekly Jobless Claims on Deck
Hawkish comments from BOE member Andrew Sentance?
ECB To Keep Rates Steady at 1.00%

United States

Yeehaw!!! It was a rough ride for the dollar bulls yesterday when they rode the erratic movements against the euro. EURUSD leveled off to close at1.2368 after an intraday low of 1.2553, but USDJPY ascended to 87.70 from its 87.52 open price. More…

Euro zone

There simply wasn’t enough honey for the bears to keep the euro from celebrating its seven-week high against the dollar. EURUSD opened at 1.2621 and slid down to what would be the end of the bear rally at 1.2553. Then the euro bulls came around, knocked down the dollar, and boosted the euro up to the day’s high at 1.2665. More…

United Kingdom

The Sterling went on a wild bull ride yesterday as improved risk appetite spurred the markets on. After dipping to 1.5081, GBPUSD rallied to close at 1.5191, marking a 51-pip gain for the day. More…

Japan

You can bet Yen bears were shouting “Kampai!” as they celebrated the currency’s big losses across the board yesterday. USDJPY rose from an intraday low of 87.02 to climb to 87.75. More…

Canada

he Loonie bulls continued their rampage against the dollar yesterday after the traders took Canada’s economic data in stride. USDCAD ended the day 80 pips lower than its open price at 1.0465 after soaring to an intraday high of 1.0606. More…

Australia

The Aussie did not wake up in Sydney feeling like Pip Diddy yesterday, as the bears charged AUDUSD down to its lowest at .8450. But the currency’s ‘Imma-fight-til- I-see-the-sunlight’ attitude allowed it to end the New York session only 14 pips lower than the day’s high at .8646. More…

New Zealand

Winner, winner, Kiwi dinner! Improved risk appetite had investors clamoring for more Kiwi as the NZDUSD leaped 109 pips to close at .7042 yesterday. Yum! More…

Switzerland

I have good and bad news for you, my franc bulls! The good news is that the franc gained across the charts yesterday after the poor economic reports from the euro zone reduced risk appetite in the market. The bad news is that our favorite Swiss cheese and Swiss chocolates just got more expensive. More…