Daily Economic Roundup – October 4, 2010

What’s on the Economic Horizon
UK Construction PMI to Dip in Sept
US Pending Home Sales, Factory Orders Due
NZIER Business Confidence to Improve?

United States

Geronimooo!! It seemed that the dollar couldn’t get enough of its slide down the charts last Friday when it ended the week further down in the pip dumps against its major counterparts. USDJPY, for one, leveled off to a 17-pip loss at 83.31 after hitting an intraday low of 83.16. Meanwhile, EURUSD soared by 147 pips at 1.3780. More…

Euro Zone

There’s just no stopping the euro! The juggernaut currency went through its major counterparts the way Chuck Norris tramples through enemies. Most noticeable was the big move on EURUSD, which forged new highs and rose to 1.3780 from 1.3688. More…

United Kingdom

Not even weak economic figures from the UK could stop the pound from outpacing the Greenback last Friday! GBPUSD zoomed from a low of 1.5670 to a high of 1.5873 before closing at 1.5836. Was this really a result of pound strength or was the US dollar just too weak? More…

Japan

Whoops! Despite the lack of reports from Japan last Friday, rumors on a possible increase in monetary stimulus by the Bank of Japan caused the yen to slip against its major counterparts (except for the dollar). USDJPY dropped by 17 pips at 83.31, but EURJPY rocketed by 99 pips at 114.80. More…

Canada

No mercy! The Loonie was simply ruthless against its American counterpart last Friday. For the second day in a row, forex geeks chose the Loonie over the Greenback as USDCAD ended 87 pips lower at 1.0202. More…

Australia

Fly high, Aussie! The Aussie continued to gain against its US counterpart last Friday when the weakness in the US economy weighed heavier than Australia’s red figures. AUDUSD capped the week at .9728 after dipping to an intraday low of .9636. More…

New Zealand

Up, up, and away! After successfully clearing the .7400 level, the Kiwi kept rallying against the Greenback as it climbed to a high of .7463. New Zealand didn’t release any economic reports last Friday but US dollar weakness pushed comdolls higher. More…

Switzerland

Boom-boom-pow! With guns a-blazin’ was how the franc started October. Investors didn’t seem to pay any mind to bad Swiss economic data and continued to buy up the franc. USDCHF wound up at .9751, 76 pips lower for the day. More…