Daily Economic Roundup – October 26, 2010

What’s on the Economic Horizon
UK GDP Up by 0.4% in Q3?
US Consumer Confidence Data Due
BOC Governor Carney Set to Testify Today

United States

Despite losing to its other counterparts, yesterday wasn’t all that bad for the dollar as it pulled off a wild rodeo action against the euro. The bears lassoed in EUR/USD during the New York session, taking it down from an intraday high of 1.4082 to close the day 14 pips lower at 1.3965. Yeehaw! More…

Euro Zone

Oomph! The euro took a hit against its major counterparts yesterday despite the region’s better-than-expected economic data. EUR/USD finished the day 10 pips lower at 1.3969 after hitting an intraday high of 1.4081, while EUR/JPY fell by 70 pips to 112.87. More…

United Kingdom

The pound started off on the wrong foot this week as it gapped down over the weekend. It managed to rally to a high of 1.5773 right before the London session, but was unable to keep it up once UK started releasing some data. More…

Japan

Someone should call the fire department ’cause the yen in smokin’! Hollah! The Asian currency was sizzlin’ as it posted a new 15-year high against the dollar at 80.41. At the end of the day, USD/JPY was at 80.79 with the yen burning 45 pips from its counterpart. More…

Canada

Score another one for the comdoll connection! Like the other commodity-related currencies, the Loonie gained against the dollar after the dollar-bearish sentiments from the G20 meeting and Goldman Sachs estimates. USD/CAD dropped to an intraday low of 1.0155 before leveling off 53 pips lower than its open price at 1.0203. More…

Australia

AUD/USD opened at .9873 to kick start the week, sportin’ a weekend gap akin to a typical 6-year-old’s front teeth. The pair then hustled to an intraday high of .9975, before closing the day at .9903 with the com-doll bagging a 30 pip win. More…

New Zealand

The Kiwi was off to a strong start yesterday as NZD/USD gapped up over the weekend then rallied to a high of .7562. However, the pair was unable to sustain this upward momentum when it erased some of its gains and closed at .7523. More…

Switzerland

Let’s give a major fist bump to the franc! Despite the lack of reports in the land of Swiss watches yesterday, the franc managed to gain against its major counterparts on euro and dollar weakness. EUR/CHF ended the day 59 pips lower at 1.3560, while USD/CHF leveled off to a 33-pip drop after falling to an intraday low of .9664. More…