Daily Economic Roundup – July 12, 2010

What’s on the Economic Horizon
Fed Head Bernanke Scheduled to Testify
No Revisions for UK’s First Quarter GDP?
BOC Business Outlook Survey Due

United States

The dollar shook its currency-booty with the bulls last Friday as it gained against most of its counterparts. It was able to boomboompow 92 pips from the Pound, 63 from the Swissy, 51 from the euro, and 25 from the yen. More…

Euro Zone

Last Friday marked the end of the euro’s hat trick as it ended its three-day streak of wins against the Greenback. EURUSD entered the weekend weaker, closing at 1.2640, down 51 pips for the day. More…

United Kingdom

Is happy hour over for the Pound? The currency took a break from its rally last week when weaker than expected economic reports were released from the UK. GBPUSD ended Fridayat 1.5066 after an intraday high of 1.5205. Meanwhile the Guppy closed 47 pips lower than its opening price at 133.54. More…

Japan

The yen managed to level off its losses last Friday after the disappointing economic reports from UK put a damper on risk appetite. EURJPY closed at 112.03 after an intraday high of 112.67, and USDJPY closed 7 pips lower than its intraday high at 88.64. More…

Canada

It’s a bird… It’s a plane… It’s the Loonie! The Canadian dollar flew higher than Superman on Friday as USDCAD took off from Thursday’s close at 1.0439. It gained momentum during the New York session and peaked at 1.0296 before landing at 1.0336 with a 103-pip gain to end the day. More…

Australia

It was another “g’day” down in Australia as the Aussie chalked up another win. It solidified its position as one of the best performing currencies last week when the AUDUSD rose from its intraday low of .8728 to close at .8773 at the end of the day. More…

New Zealand

The Kiwi fluttered at a more modest pace last Friday after soaring by 200 pips against the dollar on a risk appetite rally early in the week. NZDUSD closed at .7107after trading within a 92-pip range for two days. More…

Switzerland

The Swissy finally lost to the dollar as USDCHF traded higher on Friday. The pair opened just below the 1.0500 handle, eased to the day’s high at 1.0593 and closed the week at 1.0557. More…