Daily Economic Roundup – June 17, 2010

What’s on the Economic Horizon

US: CPI Upside Potential?
UK Retail Sales to Post 0.1% Uptick
SNB Interest Rate Decision
Canadian Wholesale Sales on Deck

United States

Relatively quiet trading yesterday, as dollar pairs remained unchanged against most other major currencies. The USDJPY stayed within range, closing at 91.41, just 2 pips higher than its opening price. The only major to post a significant loss was the GBPUSD, which dropped about 50 pips to close at 1.4706. More…

Euro zone

After gaining strongly for two consecutive days, the euro found itself reversing its gains yesterday. The combination of weaker US equity indices and rumors of Spain needing aid from the IMF/EU pushed the EURUSD back down below the 1.2300 handle. More…

United Kingdom

The pound had a tough time holding on to its gains even when the UK churned out strong employment figures. After lingering around the 1.4800 mark for almost an entire day, the cable rallied to a high of 1.4856 and closed at 1.4827. More…

Japan

The USDJPY hovered above the 91.00 handle and spiked to a high of 91.83 when the London session kicked off. From then, the yen started to surge, pushing the pair back down to the 91.10 mark. More…

Canada

Loonie bulls seemed to have lost their mojo yesterday, hesitating to push the USDCAD further below the 1.0230 area. It looks like BOC Governor Mark Carney’s attempts to downplay another rate hike are working! More…

Australia

After trending higher for six straight days, the AUDUSD bulls decided to slow down and take a break yesterday. The losses were minimal though, as the pair ended the US trading session just 22 pips lower from its Asian session opening price. More…

New Zealand

Consolidation, consolidation! Due to the absence of economic data, the NZDUSD found itself pacing back and forth between resistance at .7000 and support at .6930. It ended the US trading session barely changed from where it started at .6980. More…

Switzerland

Yawn… With no major moves in the market, the USDCHF traded within a 90 pip range before trickling slightly lower to close at 1.1301. Meanwhile, the EURCHF continued to drop, and is now chillin’ just below the 1.3900 handle. More…