Daily Economic Roundup – July 9, 2010

What’s on the Economic Horizon

German CPI, French and Italian Industrial Production on Deck
UK Trade Deficit Expected to Have Declined in April

United States

That makes it seven in a row! Once again, the mighty currency tasted defeat against the euro as EURUSD shot up to a new two-month high of 1.2702, recording a 61-pip rise from its opening price. More…

Euro zone

“It’s chow time!” said the euro bulls yesterday after the IMF, ECB, and US reports made up the triple sandwich that added a huge weight to the euro across the charts. The optimistic reports sent the currency to its two-month high against the dollar before eventually closing at 1.2698. The reports also pushed EURJPY 135 pips up from its open price of 112.18. More…

United Kingdom

The bears pounced on GBPUSD just when the Pound was about to sing “Oops! I Pipped it Again.” Opening just below the 1.5200 handle, the pair traded higher and peaked at 1.5242. It started its descent during the London session and ended the day at 1.5163. More…

Japan

Boy did the yen get some beating, whipping, and spanking from the bears yesterday! USDJPY traded higher as it opened at what would be the day’s low of 87.74. There was no other way but up for the pair as it closed at 88.40. More…

Canada

Nom nom nom! The Loonie was looking pretty tasty to investors as risk appetite seized the markets yesterday. USDCAD plunged from its opening price of 1.0479 to an intraday low of 1.0380. More…

Australia

Giant leaps were made in Australia yesterday, and it had nothing to do with kangaroos. After getting a boost from the stronger-than-expected reports last Tuesday, the Aussie gained strength from the risk appetite rally yesterday. AUDUSD jumped 149 pips to an intraday high of 0.8792 before it closed at 0.8774. More…

New Zealand

The Kiwi had quite a good run yesterday. NZDUSD traded higher, opening at .7028 and soaring to the day’s high above the .7100 handle. It ended the day with a 64-pip gain at .7092. More…

Switzerland

And that’s how you score a hat trick! For the third day in a row, the Franc pounced on the dollar to forge a new 14-week low. USDCHF fell to 1.0497, down 19 pips for the day. More…