Daily Economic Roundup – June 30, 2010

What’s on the Economic Horizon

ADP Employment – Catalysts for Risk Aversion?
Unemployment in Germany to Fall 30K
Canadian GDP to Post Slower Growth

United States

As the mighty cartoon T-rex said about 13 years ago… “We’re back!!!” Risk aversion returned to the markets yesterday, which of course meant another rampaging session for the dollar. The dollar posted some nice gains against the euro, with EURUSD falling about 100 pips from its opening price. More…

Euro zone

No thanks to the combination of poor economic reports and the news that the Greeks have staged nationwide protests against the Government’s planned austerity measures, the euro took a massive hit to the gut yesterday. The euro was the weakest currency across the board, posting new multi-year lows against both the yen and the Swissy. More…

United Kingdom

Avast! Despite the strong run of risk aversion yesterday, the Pound tried to hold on to its pieces-of-eight. Cable was able to keep its head above the 1.5000 mark while Guppy wasn’t so lucky as it keelhauled to a low of 132.83. More…

Japan

Bleaker than expected economic figures from Japan seemed unable to stop the Yen from partying yesterday. Thanks to risk aversion, the Yen scored a bunch of pips against its counterparts as traders started to unwind their riskier positions. More…

Canada

Boo hoo… Risk aversion bullied the Loonie yesterday, forcing it to tumble against the Greenback and the Yen. Because of that, USDCAD darted quickly from the 1.0350 area to a high of 1.0534. More…

Australia

Saying that the Aussie lost a lot of ground yesterday would be an understatement. In just one day, the Aussie dropped more than 220 pips against both the dollar and the yen. More…

New Zealand

Just like its fellow comdolls, the Kiwi took a massive hit to the chin yesterday. NZDUSD found itself holding on for dear life at .6930 by the day’s end, which was more than 150 pips lower from its Asian session opening price. More…

Switzerland

There’s no stopping the franc eh? The franc continued its dominating ways, as it pummelled its way to new all-time highs against the euro. EURCHF is now trading at the 1.3200 handle. Meanwhile, the franc even able to overcome broad dollar strength, as USDCHF closed at 1.0808, about 100 pips lower from yesterday’s highs. More…