Daily Economic Roundup – June 10, 2010

What’s on the Economic Horizon

US Trade Balance and Unemployment Claims on Deck
BOE: Widely Expected to Keep Rates Steady
BOC Governer Carney Speaking Tonight

United States

No thanks to improved risk appetite, the dollar was sold-off across the board yesterday. The USDX, which tracks the performance of the dollar against a basket of other major currencies, marked its second day of decline and fell as low as 88.00 before retracing its losses to end the US trading session at 88.40. More…

Euro zone

The EURUSD pair pulled up to a high of 1.2074 during the US session as risk appetite popped its head back in the markets. Euro zone didn’t release any economic reports yesterday as it geared up for the ECB rate statement today. More…

United Kingdom

Why thank you Mr. Risk Appetite! Thanks to a shift in risk sentiment yesterday, the pound was able to post some decent gains versus the dollar. The GBPUSD closed over 100 pips higher at 1.4532, even testing the 1.4600 handle. Will this continue as we pass the midway point of the week? More…

Japan

Yen trading remained as tight as a California roll, as yen pairs basically stayed within their respective ranges. With high impact reports coming out from other countries, could we see some breakouts take place? More…

Canada

Make that a hat trick! For the third day in a row, the Loonie has found itself at the back of the net, as it posted its third consecutive day of gains versus the dollar. The USDCAD found itself trading as low as 1.0365, before easing up to close at 1.0442. More…

Australia

Despite the disappointing economic figures from Australia, the Aussie was able to rebound to a high of .8359, boosted by an improvement in risk appetite and the rate hike from its neighbor New Zealand. More…

New Zealand

Hooray for New Zealand! The RBNZ hiked rates from 2.5% to 2.75%, giving the Kiwi a strong boost to a high of 0.6748 against the Greenback. That’s three out of three for the com-doll gang! More…

Switzerland

Another round of applause for the Swissy! For the second day in a row, the Swissy managed to edge up higher against both the euro and the dollar on account of risk appetite. The EURCHF made a new yearly low at 1.3734, while the USDCHF closed roughly 50 pips lower from its Asian session opening price. More…