Daily Economic Roundup – October 18, 2010

What’s on the Economic Horizon
RBA Minutes: Change of Heart?
Tik Tok, TIC Report on the Clock
Canadian Foreign Securities Purchases to Rise

United States

Boy did the Greenback bring sexy back last Friday! The dollar scored wins against its major counterparts save for the yen. It gained the most from the euro with 97 pips when EUR/USD closed the week at 1.3975, and the Swissy with 54 pips when USD/CHF closed at 0.9530. Boo yeah! More…

Euro zone

Oops, it did it again! After playing above the psychological 1.4000 handle against the dollar last Friday, the euro gave up its gains on dollar strength and not-so-stellar economic reports from the region. EUR/USD reached an intraday high of 1.4158 before ending the day 98 pips lower at 1.3974. More…

United Kingdom

D’oh! It was so close! Despite the lack of reports from the UK last Friday, the sterling gave up its gains against the dollar and the yen. EUR/GBP might have fallen by 52 pips, but GBP/JPY also gave up 24 pips at 130.14. Meanwhile, GBP/USD capped the day with a 19-pip loss after peaking at an intraday high of 1.6107. More…

Japan

So it seems that the yen has just posted new highs against the dollar. Yawn… what’s new? USD/JPY once again dipped below the 81.00 handle, before rising back up to close at 81.41 to end the week. More…

Canada

The Loonie showed the market why it’s nicknamed after a flightless bird during Friday’s trading when it gave up 59 pips to the dollar. USD/CAD closed the week at 1.0105, ending the Loonie’s 6-week winning streak. Tsk, tsk. More…

Australia

After finally getting a dose of parity, Aussie bulls decided to chill out, take some profits, and celebrate! This allowed AUD/USD to fall back below the .9900 handle before the end of the week. Still, with a doji forming on the weekly chart, is it time for a reversal? More…

New Zealand

I guess the comdoll connection wasn’t cute enough for the markets this time! No reports were released over in the Land of the Maoris last Friday, but like the other comdolls, the Kiwi lost against the dollar on dollar strength. NZS/USD ended the week 38 pips lower against the greenback at .7542 after hitting an intraday high of .7619. More…

Switzerland

The absence of economic reports left the franc at the mercy of market sentiment, during Friday’s trading. Its scorecard was as mixed as a bag of M&Ms as it sustained a 54-pip loss against the dollar when USD/CHF closed the week at 0.9584, and snatched a 10-pip win against the euro when EUR/CHF chilled at the 1.3400 psychological handle to end the day. More…