Daily Economic Roundup – May 26, 2010

What’s on the Economic Horizon
Upside Surprise in US New Home Sales?
Gfk Consumer Sentiment Index Expected to Fall to 3.5
New Zealand’s Trade Balance on Deck

United States

Risk aversion still reigned supreme in the markets but it seems that investors got a new bee in their bonnet lately. Aside from the usual debt woes, the ongoing tension in Korea is also causing investors to flee to the safe-havens, much to the delight of the greenback. More…

Euro Zone

After falling sharply during the Asian and morning European trading sessions, the EURUSD was able to bounce back and rally higher once the US trading session went underway. The sunk to 1.2178 before rebounding to close the day at 1.2334. More…

United Kingdom

Ranging, ranging, ranging! The GBPUSD has been stuck in a range the past two weeks now, bouncing between 1.4250 and 1.4500. Will this be the recurring theme this week? More…

Japan

Up and down day for the yen, as it bobbed its head to a nice slow rhythm. Lows on both the GBPJPY and EURJPY held, while the USDJPY remained within a relatively tight range. What could be in store for us today? More…

Canada

Well wadya know? The USDCAD just hit a new yearly high at 1.0854 before closing at 1.0698. My only question is, why couldn’t the USDCAD close any higher? Are there any buyers left out there? More…

Australia

Like other major currencies, the Aussie went on a wild roller-coaster ride yesterday. The AUDUSD found itself dropping early on during the Asian session but regaining most of its losses once the US trading session rolled along. At the end of the day, all in all, the AUDUSD only fell 44 pips. More…

New Zealand

The NZDUSD found itself holding on to the short end of the stick yesterday. The pair ended the day at 0.6681, almost 40 pips lower from its Asian session price. More…

Switzerland

Finally! The USDCHF pair was able to bust out of its range yesterday as risk aversion prodded the greenback higher. However, the pair’s rally seemed to lose steam as it slid back below the 1.1600 level during the US session. More…