Daily Economic Roundup – June 8, 2010

What’s on the Economic Horizon
Swiss CPI to Post 0.1% Uptick
Canadian Housing Starts to Rise to 203K
Upside Surprise in EZ Industrial Production?

United States

The Greenback seemed to be all over the place yesterday as it strengthened against the euro, Aussie, and Kiwi but weakened against the yen, pound, and Loonie. Maybe the lack of economic reports from the US is to blame for the Greenback’s mixed performance. More…

Euro Zone

With no major news or surprises yesterday, the EURUSD didn’t tumble down much further, as it only fell 50 pips from its opening price. Is the EURUSD about to find a bottom? More…

United Kingdom

The pound turned out to be one of the stronger currencies in yesterday’s trading session. The Cable opened the week slightly lower at 1.4454, but some “good” news from UK’s new Prime Minister helped take it higher to 1.4468 by the end of the US trading session. More…

Japan

After the yen’s strong run last Friday, the currency decided to take a break and slowdown yesterday. It paced back and forth between yesterday’s highs and lows, before eventually closing the day with minor days. The USDJPY, for one, ended the US trading session 30 pips lower from its Asian session opening price. More…

Canada

Due to the absence of economic data, the Loonie was unable to find a clear direction yesterday. The USDCAD went as high as 1.0680, dropped to 1.0515, before eventually closing out the US trading session at 1.0603. More…

Australia

Talk about a wipeout! The AUDUSD got hit by wave of risk aversion as local traders got their orders filled in. The pair dropped over 100 pips from its opening price, but found support at last month’s lows. Will support continue to hold? More…

New Zealand

The Kiwi lost out in yesterdays trading wars as risk aversion continued to fill the air. Like the Aussie dollar, the Kiwi fell just over 100 pips from its opening price. More…

Switzerland

Sniff sniff… Is that a brewing SNB intervention I smell? With the EURCHF now way below the 1.4000 handle, Switzerland’s central bank might be thinking of talking down the franc again. More…