Daily Economic Roundup – October 1, 2010

What’s on the Economic Horizon
Swiss Annual Retail Sales Up by 3.2%
UK Manufacturing PMI to Dip in September
ISM Manufacturing PMI on Tap

United States

It’s been a while since we saw signs of life from the USD. Yesterday, it clawed its way through the charts to salvage a few wins. While it sold off against the JPY and CAD, it salvaged a few victories versus the AUD, NZD, GBP, and CHF. Versus the EUR, it was practically held to a stalemate as EURUSD rose just 5 pips to close at 1.3634. More…

Euro Zone

The euro extended its winning streak against the Greenback as EURUSD made a new high of 1.3684. Euro zone reports came out strong, overshadowing the effect of Moody’s debt downgrade on Spain. More…

United Kingdom

Ahh, there goes another case of “Loose lips sink pips” for the pound. The currency fell against almost all of its major counterparts during yesterday’s trading, losing the most to the yen with 88 pips, then to the dollar with 73 pips, and the euro with 43 pips. Ouch! So, who was it that uttered the letters Q and E this time? More…

Japan

The yen went brought its Pipzilla back yesterday as it munched pips from most of its counterparts. GBPJPY closed lower by 88 pips and so did EURJPY but only by a modest 17 pips. USDJPY dipped to its lowest since the intervention at 83.16 before it ended the day with a 12-pip win for the yen at 83.53. More…

Canada

What a way to end September! After experiencing a three-day slide against its southern neighbor, the Loonie fought back against the Greenback to force USDCAD lower. The pair dipped from its opening price of 1.0340 to reach a low of 1.0231 before it finally took a chill pill and rested at 1.0289. More…

Australia

AUDUSD’s price action yesterday made me nostalgic of R. Kelly’s “Ignition” as it bounced, bounced, bounced, bounced on the charts. The Aussie rolled its currency booty to a new 2-year high at 0.9734 and got all ’em bulls wishin’. Too bad it wasn’t able to hang on to its gains and closed the day with a 15-pip loss at 0.9671. More…

New Zealand

Argh! That .7400 handle is just too strong for the Kiwi! This level acted as resistance for NZDUSD, before the pair slid to a low of .7306. Is it payback time from the Greenback? More…

Switzerland

I gotta be frank with you, franc. Your performance yesterday was whack! For realz yo! USDCHF recorded only its second rise in the past 10 days after the US boosted its currency with a few positive reports. From its opening price of .9770, the pair dipped to a low of .9710 before it turned up the volume and rose to close at .9827. More…