Daily Economic Roundup – October 19, 2010

What’s on the Economic Horizon

U.S. Housing Starts and Building Permits on Deck
BOC Expected to Keep Rates Steady
Euro zone ZEW on Tap

United States

It looked like the dollar was going to continue its winning ways from last Friday, but like I always say, sentiment can change on a dime and that’s exactly what happened! After hitting an intraday low at 1.3831, EUR/USD rose back up to close above its opening price, finishing at 1.3992! Tough luck Uncle Sam! More…

Euro zone

New York was the trading session where pip-dreams were made for the euro. It hustled some muscle after bottoming at 1.3831 during the Asian session yesterday, and closed with a 6-pip win against the dollar when EUR/USD settled at 1.3992. Boo yeah! More…

United Kingdom

Though pound bulls gave a valiant effort, the bears were simply too strong for them. As a result, the pound was one of yesterday’s biggest losers, sliding against its major counterparts due to talks of quantitative easing. GBP/USD fell 44 pips to land at 1.5932 while GBP/JPY slid more dramatically, slipping 73 pips to end at 129.33. More…

Japan

Jamie Foxx wasn’t the only one singing, “You know you lookin’ at a winner!” yesterday. The yen posted its own victory up on the charts, too! Helped by better-than-expected tertiary industry activity data, the yen rose above the weakened USD once again. USD/JPY started the week off by heading south and hasn’t turned back since. It closed 25 pips lower for the day at 81.18. More…

Canada

Too bad the Loonie’s pips during yesterday’s trading weren’t as sweet as Canada’s maple syrup. USD/CAD traded higher yesterday, peaking at 1.0228 before it closed the day at 1.0141, with the Loonie sustaining a 20-pip loss. More…

Australia

Taking advantage of the dollar’s inability to keep its gains, the Aussie ramped up the charts and actually finished with a small win. After trading as low as .9801, AUD/USD reversed midway through the European session and closed .9939. Will we see Aussie bulls make another run for parity? More…

New Zealand

Aaand we’re back in business! After experiencing a slump towards the end of last week, the Kiwi bounced back with help from positive reports released over the weekend. NZD/USD rose 50 pips from its opening price of .7564 but not before hitting an intraday low of .7501. More…

Switzerland

Ah, it seems like the Swissy got its mojo back as it posted gains against its major counterparts in yesterday’s trading. It was up by as much as 91 pips against the euro when EUR/CHF bottomed at 1.3306, before the pair ended the day at 1.3375 with a 22-pip gain. Against the dollar, it was able to snatch 17 pips as USD/CHF closed at 0.9560. More…