Daily Economic Roundup – June 15, 2010

What’s on the Economic Horizon

Empire State Survey and TIC Long-Term Purchases from the US Today
German ZEW Economic Sentiment to Climb to 48.7
UK: Inflation Tuesday
Big Statements from the BOJ?

United States

The dollar was pounded across the board yesterday when a strong wave of risk taking made its way back to the markets. Late in the US session, however, the dollar was able to find some relief when news of a Greece credit rating downgrade tempered risk appetite. More…

Euro Zone

Newsflash! Greece received another downgrade from a credit rating agency. Not so much of a surprise, isn’t it? What’s more surprising is that the euro even rallied against the greenback and closed at 1.2253, up from its open price of 1.2116. More…

United Kingdom

Talk about kicking off things on the right foot! The pound started the week on a strong note, as it managed to make new highs versus the dollar. The GBPUSD rose to as high as 1.4810, before settling at 1.4745, marking a gain of 170 pips. More…

Japan

After stumbling out of the blocks, the yen was able to recuperate, posting manageable losses versus higher yielding currencies. News that Greece got downgraded by another ratings agency helped spur some risk aversion, which of course, helped the yen. After making an intraday high at 112.87, the EURJPY only managed to finish at 111.81. More…

Canada

It looked like the Loonie was going to set off for another massive run, as the USDCAD hit as low as 1.0225 in intraday trading. However, the Loonie ended up giving its gains, as an avalanche of risk aversion came in to fill the markets. The USDCAD ended up closing higher than its opening price, finishing at 1.0327. More…

Australia

After opening at .8531, the Aussie dashed to a high of .8668 against the greenback. Even though Australia didn’t release any economic figures, traders kept shopping for the Aussie as risk-taking became the latest trend. More…

New Zealand

Not even the 0.3% slide in New Zealand’s retail sales was able to drag the Kiwi down in yesterday’s trading. In fact, the NZDUSD was able to soar to a high of .7021 after opening at .6911. More…

Switzerland

Thanks to some positive economic data and improved risk appetite, the Swissy was able to edge higher against the dollar yesterday. The Swissy rallied all throughout the Asian session, but it eventually retraced majority of its gains when bad news regarding Greece’s debt rating hit the headlines once again. More…

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