Daily Economic Roundup – May 21, 2010

What’s on the Economic Horizon
UK’s Public Sector Net Borrowing Report on Deck
BOJ Widely Expected to Keep Rates at 0.10%
German IFO Business Climate Survey: Downside Surprise?

United States

The greenback’s scorecard showed mixed results: A couple of losses against the euro and yen, a draw against the Swissy and pound, and knockout wins against the comdolls. More…

Euro Zone

Make that back to back! For the first time in three weeks, the euro was able to post gains on consecutive days! The EURUSD closed yesterday at 1.2511, after hitting an intraday high of 1.2599. Could we see more of the same today? More…

United Kingdom

For the fourth day in a row, the pound was unable to bust out of its range. The GBPUSD ended the US trading session at 1.4392, barely 20 pips lower from its Asian session opening price. More…

Japan

Did you see how naughty the yen became yesterday? It soared early on in Asia, reversed its gains during the European session, and then rallied again when the US trading session went underway! More…

Canada

Two hundred and thirty pips – that’s how much ground the CAD gave up against the USD yesterday. The combination of risk aversion, the weakening of the AUD, debt contagion fears, and the speculation of the BOC delaying its rate hike gave the CAD bears more fuel to take the currency lower across the board. More…

Australia

Oy! What’s been happening with the Aussie?! This past week, the AUDUSD has dropped by 700 pips, closing at 0.8213 yesterday. With it being a Friday, could we see some profit taking take place? More…

New Zealand

Did someone just hire a mercenary to take out the com-dolls!? The NZDUSD was part of the big com-doll hit yesterday, as it dropped another 90 pips to end the day at 0.6621. More…

Switzerland

Yikes! Did the SNB intervene in the currency markets again? After lingering around the 1.4000 handle for a while, the EURCHF suddenly spiked by almost 500 pips in the past two days. More...