Daily Economic Roundup – May 27, 2010

What’s on the Economic Horizon

First Estimate on US 1Q GDP on Deck
German Consumer Prices Expected To Have Risen by 0.10%
Will the Pound Break its Range Today?

United States

Ho hum, for the second day in a row, the US dollar found itself trading within a tight range against most major currencies. The so-called world’s reserve currency posted some spectacular gains over the euro again though, as the EURUSD closed the US trading session at 1.2193, down almost 150 pips from its opening price during the Asian session. More…

Euro Zone

We’re going down, down… down, down… Oh sorry, I was listening to that new single by the band “The Euro Bears”! Its the new in thing! Just look at the EURUSD, which dropped 140 pips from its opening price. Will it set a new record low? More…

United Kingdom

For the eighth day in a row, the cable stayed inside its range between 1.4250 and 1.4500. The guppy’s movement was also relatively calm as it paced back and forth between 129.05 and 130.65. More…

Japan

Despite the recent blasts of risk aversion, the yen seemed to be snoozing and was unable to take part of the excitement. Traders were probably uneasy with buying up the yen given the ongoing tension in Korea, which is just a stone’s throw away from Japan. More…

Canada

The Loonie put up a good fight against the greenback yesterday, pushing the USDCAD to a low of 1.0581. No economic reports were released from Canada in the past 24 hours but let’s check out what’s in store for today! More…

Australia

As Big Pippin pointed out in his chart art, the AUDUSD seems to be staying within its recent range. The pair failed to break past the neckline resistnace at 0.8350, and closed at 0.8231. More…

New Zealand

With not much big moves yesterday, the NZDUSD kept within its range and channeled lower. At the end of the day, the pair closed slightly lower at 0.6632. Will we continue to see the pair channel lower? More…

Switzerland

As expected, the absence of economic reports yesterday kept the Swissy bouncing its intraday highs and lows yesterday. The USDCHF closed the US trading session at 1.1595, barely changed from its Asian session opening price of 1.1572. More…