Daily Economic Roundup – October 27, 2010

What’s on the Economic Horizon
US New Home Sales to Improve?
RBNZ To Keep Rates on Hold at 3.00%
Japanese Retail Sales Data Due

United States

The dollar posted another win against the euro yesterday as EUR/USD closed 118 pips lower at 1.3852. I guess traders were diggin’ the cliché, “Once you go Buck, you never go back.” Ha! Anyway, against the yen, the dollar erased the loss it scored on Monday as USD/JPY ended 70 pips higher at 81.50. Sweet! More…

Euro Zone

Euro bears hit the throttle yesterday as disappointing consumer sentiment data and cautious words from Bundesbank President Weber proved too much for the euro to overcome. While the euro held its own against the yen and franc, it performed badly against the pound and Greenback. EUR/GBP dropped sharply to record a 134-pip slide and closed at .8746. Likewise, EUR/USD didn’t reach much higher than its opening price of 1.3969 and settled 117 pips lower for the day. More…

United Kingdom

Yipee! The pound was in a cheery mood yesterday after the U.K. reported a stronger than expected GDP reading for the third quarter. Cable jumped up to a high of 1.5896 minutes after the release while guppy climbed towards the 129.00 handle. More…

Japan

The performance of the yen crosses was as mixed as a David Guetta remix yesterday. The Japanese yen weakened against the US dollar and sterling, consolidated against the Australian dollar, and strengthened against the euro. What’s up with that? More…

Canada

The Loonie practically erased its gains against the Greenback from Monday as the American currency beefed up and pushed USD/CAD higher yesterday. The Loonie hardly put up a fight! The lack of reports from Canada allowed USD/CAD to finish at 1.0240, up 36 pips for the day. More…

Australia

Along with the passing of Octopus Paul, the Aussie bulls mourned for the pips that they lost in yesterday’s trading. AUD/USD ended Tuesday 60 pips lower at .9844, erasing the gain it posted on Monday. More…

New Zealand

One day it’s up, the next day it’s down! After rising up the charts to start the week, the Kiwi took a dive as uncertainty over the U.S.’s possible QE part 2 scared investors away. NZD/USD fell 40 pips and ended at .7485. More…

Switzerland

Boy did the franc get tanked in yesterday’s trading! It slipped and slid during the New York session, ending the day with losses against its counterparts. USD/CHF was 146 pips higher at .9856 while EUR/CHF was chillin’ at 1.3651, knocking 88 pips out of the Swissy. More…