Daily Economic Roundup – October 21, 2010

What’s on the Economic Horizon

U.S. Initial Jobless Claims, Philly Fed Index, and Leading Indicators on Deck

U.K. Retail Sales to Have Gone Positive in September
Switzerland’s Trade Balance Surplus Expected to Increase

United States

So much for a comeback, Greenback! After struttin’ its stuff on the charts during Tuesday’s trading, the dollar posted losses against its counterparts yesterday. It gave up the most to the euro with 221 pips when EUR/USD closed at 1.3950, then the Aussie with 182 pips when AUD/USD closed at .9684, and the pound as GBP/USD closed at 1.5840. Sheesh! More…

Euro zone

Ka-pow! The euro knocked down its major counterparts yesterday when a triple combo of economic events hit the markets. Improved risk appetite, hawkish ECB comments, and better-than-expected economic reports sent EUR/USD 221 pips above its open price at 1.3950. Meanwhile, EUR/JPY also wiped out most of Tuesday’s losses with a 130-pip gain at 113.25. More…

United Kingdom

“I like it… I, I, I like it” The sterling bulls danced to Enrique Iglesias’ tune yesterday as the pound rose to the pip charts despite the not-so-stellar reports in the U.K.. EUR/GBP might have risen by 60 pips at .8805, but GBP/USD and GBP/JPY also rocked the charts at 1.5842 and 128.79 respectively. More…

Japan

And the yen does it again! The Asian currency hustled some muscle to its new 15-year high against the dollar at 80.85 just before the Fed’s Beige Book report. Sweet! USD/JPY then inched up a bit and ended the day 45 pips lower at 81.09. More…

Canada

After losing for three straight days, the Loonie bulls decided that they had enough of just sitting back and letting the bears trample all over them. USD/CAD fell to 1.0222 by the end of the U.S. trading session, 130 pips lower from its Asian session opening price. Was the upmove we saw the past three days simply a retracement of the overall downtrend? Hah, that’s what it seems like! More…

Australia

The Aussie pulled off a Kanye West (who replaced some of his teeth with diamonds) on the charts yesterday when it exchanged the red pips it got from Tuesday’s trading for a handful of green ones. Ha! AUD/USD started the day at .9682 and closed just a few pips below its intraday high at .9866. More…

New Zealand

Fly, Kiwi, fly! The Kiwi wiped out Tuesday’s losses against the dollar yesterday when a wave of risk appetite surged in the markets. NZD/USD soared by 101 pips at .7544 after tipping an intraday high of .7569. More…

Switzerland

After their short two-day rest, the Swissy bulls are at it again! Thanks to more talks of further quantitative easing from the Fed, the Greenback fell across the board, much to the delight of the Swissy bulls. After briefly rallying to .9750 on Tuesday, USD/CHF fell back to .9617 yesterday. More…