Daily Economic Roundup – May 13, 2010

What’s on the Economic Horizon

US Initial Jobless Claims to Decrease to 440,000
UK Trade Figures on Deck
New Zealand Retail Sales Expected to Have Rebounded in April

United States

For the second day in a row, the US dollar found itself trading in a mixed fashion against other major currencies. While the pound and the euro struggled to hold their ground, the commodity-based dollars like the Loonie, Aussie and the Kiwi, ended the US trading session barely changed. More…

Euro Zone

Stronger than expected GDP readings from the euro zone were unable to propel the euro higher as it dropped a few more notches against the greenback and the yen. As usual, doubts that the euro zone could make a graceful exit from the debt crisis dampened demand for the euro. More…

United Kingdom

Looks like yesterday’s happy hour at the pub was short lived! After zooming higher at the start of the European session, the GBPUSD dropped like someone who had one too many drinks for the night! The pair eventually closed shop down over 100 pips for the day. More…

Japan

With volatility drying up, the yen pairs found themselves consolidating within tight ranges. Could we be in line for some breakouts soon? More…

Canada

Another quiet day for Loonie trading, as the USDCAD traded within a range of just 80 pips. The pair eventually closed just below the 1.0200 handle, down 20 pips for the day. More…

Australia

The Aussie was having a bad day since it kept getting wiped out by the greenback and the yen. It turns out the tiny wave of risk appetite, which pushed stocks and commodities slightly higher, couldn’t get the Aussie up on its surfboard yesterday. More…

New Zealand

The Kiwi was off to a strong start yesterday as it initially raced for gains against the greenback. However, its rally was short-lived since it took a U-turn upon reaching the 0.7200 mark. More…

Switzerland

The USDCHF went on snooze mode yesterday, moving sideways all throughout the three trading sessions. The pair ended the US trading session at 1.1111, just eight pips higher from its Asian session opening price. More…