Daily Economic Roundup – May 4, 2010

What’s on the Economic Horizon
GBPUSD: Potential Breakout on UK PMI and Consumer Credit Report?
RBA Rate Decision Today
US Pending Home Sales Up by 3.9%

United States

Strong US economic reports boosted demand for the USD yesterday, allowing it to score gains against the JPY, EUR, GBP, and CHF. The com-doll gang (AUD, CAD, NZD) stayed resilient and refused to give up their recent gains. More…

Euro Zone

After tumbling down early in the Asian session, the EURUSD trading went to sleep for the rest of the day. How tight was it? Well, for about 12 hours, the pair traded within a tight range of just THIRTY pips, eventually closing the day below the 1.3200 handle. More…

United Kingdom

After falling sharply early in Asia, the lack of economic flows kept the GBPUSD mostly in range all throughout the European and US trading session yesterday. The pair ended the day hardly changed at 1.5243, just roughly 50 pips lower from its week open price. More…

Japan

The yen ended up holding on to the shorter end of the stick yesterday, as investors chose higher-yielding currencies over it. The currency lost against the dollar, the euro, the pound, and the Aussie. More…

Canada

The Loonie kicked off the week on a strong note yesterday, rallying against the greenback throughout the European and US trading sessions. The USDCAD ended Monday at 1.0105, 70 pips lower from its week open price. More…

Australia

After gapping down to start the week, the AUDUSD recovered and stayed above water. After rising 50 pips for the day, the pair continued to tread. Hmmm… what exactly are traders waiting for? More…

New Zealand

Surf’s up my friend! The Kiwi swam higher in yesterday’s trading session, benefitting from an increase in risk appetite, which let the NZDUSD close 60 pips higher from its opening price. Good way to start off the week eh? More…

Switzerland

Not even the great Iron Man could save the Swissy from getting whiplashed by the greenback during yesterday’s trading. After opening at 1.0742, the USDCHF zoomed up by more than a couple hundred pips and reached a high of 1.0890. More…