Daily Economic Roundup – June 2, 2010

What’s on the Economic Horizon

US Pending Home Sales to Grow Again
Net Lending to Individuals Expected to Have Risen in April
Swiss Retail Sales on the Docket

United States

After the slow trading seen on Monday due to Memorial Day, the dollar simply burst with life yesterday. The dollar started out with a strong rally early on, outpacing other major currencies. Then, once the US trading session came along, risk appetite made its way back into the markets, which led to a dollar sell-off. More…

Euro zone

The euro dropped it like its hot yesterday and hit a fresh low of 1.2111 against the greenback. Its performance against the yen was also weak as it dropped to a low of 109.77 during the US session. More…

United Kingdom

Despite the fresh round of risk aversion that hit the markets yesterday, the pound burst higher on good data that was released. The GBPUSD touched the 1.4700, marking the highest level its been at in two weeks. Can the sustain its gains? More…

Japan

The JPY was able to ride on the coattails of risk aversion that kicked in during the European session, clocking in wins against the EUR and CAD. However, as its winnings we’re short lived and the JPY is losing out as I write this! More…

Canada

Oh, Loonie, why did you fall yesterday?! As expected, the Bank of Canada rose its base rate yesterday, but instead of getting a boost, the CAD got stomped on by the USD, erasing all its gains from the previous day. More…

Australia

The Aussie got wiped out by a huge wave of disappointing economic reports yesterday, causing the AUDUSD to fall to a low of 0.8283. The AUDJPY was also severely hit but it was able to bounce from the psychological 75.00 handle. More…

New Zealand

The lack of economic reports from New Zealand left the Kiwi with a topsy-turvy performance yesterday. At first, the NZDUSD dived to a low of 0.6703 but pulled up to a high of 0.6837 later on. More…

Switzerland

Like other major currencies, the Swissy went on a wild rollercoaster ride yesterday. The USDCHF rose as high as 1.1731 during the Asian session, before slumping back down to 1.1574 during the European and US trading sessions. More…