Daily Economic Roundup – June 25, 2010

What’s on the Economic Horizon

Revised US GDP Expected To Remain Steady
BOE Financial Stability To Rock the Markets?

United States

Mixed trading for the dollar yesterday, which gained against commodity based currencies but lost out against the euro and pound. With it being a Friday, what could be in store for us today? More…

Euro zone

The euro’s price action yesterday was as crazy as a table tennis match! After experiencing a quick sell-off during the Asian trading session, the euro bounced back furiously when the US trading session went underway. The EURUSD ended the day at 1.2325, barely changed from its opening price of 1.2310. More…

United Kingdom

Argh! After several attempts, the cable was unable to keep its head above the psychological 1.5000 mark for long. Despite the positive reaction to the UK’s proposed austerity measures earlier this week, many traders still seemed to doubt whether the UK could overcome its fiscal challenges without compromising economic growth. More…

Japan

The Japanese yen popped a bottle of sake yesterday and toasted to its gains against its counterparts. Better than expected inflation figures from Japan gave the yen a good reason to celebrate. More…

Canada

Loonie price action was as rocky as the Canadian Rockies yesterday as it struggled to hold on to its gains. However, Greenback strength soon prevailed and pushed the USDCAD from a low of 1.0361 to a high of 1.0470. More…

Australia

It was a difficult day for the Aussie yesterday, as it struggled to hold on to its gains over the dollar. Sadly, the dollar proved to be too strong, causing the Aussie to eventually give way. The AUDUSD closed out the day at .8662, down 90 pips from its opening price. More…

New Zealand

Choppy, choppy, choppy – that’s how the Kiwi traded yesterday. The NZDUSD fell early on in the Asian trading session, bounced back up during the EU/US overlap, and then dropped late in the afternoon to end the day at .7069! More…

Switzerland

Once again, the USDCHF traded within a tight range, although it trickled lower by the end of the day. The pair closed just about 30 pips lower to finish at 1.1025. More…