Daily Economic Roundup – October 15, 2010

What’s on the Economic Horizon

U.S. Retail Sales, CPI, and UoM Survey on Deck
Euro Zone Trade Deficit Expected to Widen by 600 million EUR
Canadian Manufacturing Sales to Rise 0.5%

United States

I’m starting to wonder if the USD likes the taste of defeat. Yesterday, thanks to a couple of disappointing reports, it chalked up big losses against its major counterparts again. EUR/USD rose an awesome 115 pips and finished at 1.4072; USD/JPY slid 29 pips and closed at 81.47; and GBP/USD climbed 112 pips and ended at 1.6003. More…

Euro Zone

The euro pulled off a Kanye when it stole the spotlight during yesterday’s trading. It impressively broke past resistance at 1.4100 and posted its 9-month high against the dollar at 1.4124. Whaddup! EUR/USD then dipped a bit to close the day at 1.4072, bagging 115 pips from the dollar. More…

United Kingdom

Lo and behold the mighty Cable… at least for now! Despite U.K.’s empty economic calendar, Cable was still able to rally to new 8-month highs as U.S. fundamentals continue to sour. Cable had soared all the way to 1.6067 during the European session before it eventually settled at 1.6010 by the end of the U.S. session. More…

Japan

The yen continued its Pipzilla performance on the charts as it tapped its 15-year high against the dollar at 80.89. Rawr! USD/JPY then inched higher to close the day 29 pips higher at 81.47. More…

Canada

And USD/CAD hits parity again! Fortunately, the Loonie’s was short-lived, as traders bought up USD/CAD quickly after seeing it go under the 1.0000 handle. The pair ended the U.S. trading session at 1.0049, just 11 pips lower from its Asian session opening price. More…

Australia

Dang, son! There’s just no stopping the Aussie! Spurred by positive inflation expectations early in the day, AUD/USD staged a rally and hit a new all-time high, coming within 6 pips of hitting 1.0000! But in the end, it settled at .9938 to record a solid 38-pip climb. More…

New Zealand

The Kiwi was soaring, flying and reaching for pips at its two-year high against the dollar at 0.7644, when the bears reminded it that it was nicknamed after a flightless bird. Ha! NZD/USD ended the day 25 pips lower at 0.7580. More…

Switzerland

I’m gonna start callin’ the Swissy “The Mailman”… because he always delivers! Haha! It delivered another strong performance against the Greenback yesterday, forcing USD/CHF to a new record low. Before it eventually closed at .9529, the pair had plunged from its opening price of .9591 and bottomed out at .9464. More…