Daily Economic Roundup – June 28, 2010

What’s on the Economic Horizon

US Personal Consumption Expenditure to Rise 0.1%
New Zealand Business Confidence to Rebound in May?

United States

The dollar’s price action was as crazy as a monkey wearing tights and licking a tree last Friday! After trading in a very tight range throughout Asia and Europe, the dollar shattered into pieces once the US afternoon trading session rolled along. The US dollar index fell to 85.76, down 50 points from its opening level that day. More…

Euro zone

Bust out your vuvuzelas because Germany just clobbered England during their World Cup match! The EURUSD must’ve seen this coming because it rallied from a low of 1.2254 all the way up to a high of 1.2396 before the weekend. More…

United Kingdom

It seems that traders have reacted positively to all the new austerity measures that the UK government has in place, as the pound was able to post some decent gains in last week’s trading. The GBPUSD rose over 200 pips, and is now trading above the 1.5050 handle. Can GBP bulls sustain their momentum this week? More…

Japan

It was a great week for the yen, as it was able to post gains versus the euro and dollar throughout the week. This tells me that risk aversion is still playing a role in the forex markets. Could this continue as we approach the last week of the first half of the year? More…

Canada

At least it wasn’t a sweep! After four consecutive days of losses, the Loonie finally got on track. The USDCAD closed at 1.0358, more than 70 pips lower than its opening price for the day. More…

Australia

After sliding down for an entire week, the AUDUSD pulled up last Friday and closed at 0.8751. No economic reports were released from Australia as traders fussed over the new Prime Minister’s stance on the mining tax. More…

New Zealand

Kaboom! After dipping to the .7000 handle, the NZDUSD surged sharply to the .7150 area before the week came to a close. New Zealand didn’t release any economic reports at that time. More…

Switzerland

The Swissy did it again! After ranging for the better part of last week, the Swissy just burst with life on Friday. The Swissy closed out with a 100-pip gain over the dollar while also clocking in 55 pips against the euro. More…

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