Daily Economic Roundup – June 1, 2010

What’s on the Economic Horizon

Expected Decline in ISM Manufacturing PMI
UK’s Manufacturing PMI on Deck
Will the BOC Break the Ice?
Joblessness in Eurozone to Rise to 10.1%

United States

With US traders chillin’, sippin’ beers and kickin’ with their families to celebrate the Memorial Day holiday, trading was pretty quiet. With both the US and London markets coming back to life today, we could be in for some wild swings as traders reposition themselves. More…

Euro zone

As expected, the low liquid conditions kept the euro trading in a tight range against the dollar yesterday. The EURUSD simply paced back and forth between 1.2256 and 1.2334 before ending the day at 1.2303. More…

United Kingdom

Despite the US traders off on holiday, the pound still managed to muster up some strength and stage a rally yesterday. The Cable ended the day at 1.4542, up almost 100 pips from its week open price. More…

Japan

The market didn’t witness much Samurai-swingin’ action as the yen found itself giving up some ground versus other major currencies yesterday. Both the euro and the dollar posted some gains against the yen, with the EURJPY and USDJPY rising to 112.0 and 91.28 by the end of the day. More…

Canada

With the US markets closed for the holiday, the Loonie turned out to be the big winner in yesterday’s trading sessions. The USDCAD dropped over 100 pips to end the day at 1.0435. More…

Australia

Surprisingly, despite the long holiday weekend, the Aussie was able to move quite a bit in yesterday’s trading session. It opened the week at 0.8474, rose to test the 0.8500 handle, failed, fell back to 0.8400, before rallying once again to end the day at 0.8447. More…

New Zealand

The Kiwis may be confident, but the skittish market need more convincing as the Kiwi finished slightly lower against the dollar and the yen at 0.6767 and 61.77 respectively despite companies being at their highest spirits since May 1999. More…

Switzerland

I’m sure it comes as no surprise that the newswires were once again silent in Switzerland yesterday. *yawn!* The snooze-fest continued on the charts as the USDCHF traded with a slight downward slope throughout the day, starting out at 1.1598, and finishing off at 1.1553. More…