Daily Economic Roundup – October 29, 2010

What’s on the Economic Horizon

U.S. Advanced GDP report on deck
Japan Housing starts in September seen at 15.3%
U.K. Mortgage Approvals on Tap

United States

The dollars bears just couldn’t resist could they? After the dollar had eked out three consecutive days of gains, risk appetite took over yesterday, pushing higher yielding currencies higher against the dollar. EUR/USD rose more than 150 pips from its opening price to end at 1.3929. Meanwhile, GBP/USD soared higher to 1.5939, up more 170 pips for the day. More…

Euro zone

And we’re back in the game! After losing ground against the greenback for the past few days, the euro rebounded up the charts on a ripple of risk appetite and profit-taking in the markets. EUR/USD jumped by 162 pips from its open price at 1.3929, while EUR/JPY closed at 112.88 after dropping to an intraday low of 112.19. More…

United Kingdom

The pound pulled off a Cain Velasquez on the charts yesterday as it choke-slammed 175 pips out of the dollar. Rawr! At the end of the day, GBP/USD was up at 1.5940 after kick-starting the day at 1.5765. More…

Japan

Aha, it looks like the yen found its mojo yesterday as it erased most of the losses it scored against the dollar in the previous couple of days. After opening at 81.70, USD/JPY went on a downtrend until the day’s close at 81.04. More…

Canada

“I’m on a high, on a high…” Despite the lack of economic reports from the economy, the Loonie danced to Duncan Sheik’s number on greenback weakness. USD/CAD dropped by 70 pips from its open price at 1.0217 after hitting an intraday low of 1.0182. More…

Australia

After finding support at last week’s low, the Aussie rode a wave of risk appetite to keep its head above water versus the dollar. AUD/USD finished yesterday up 74 pips from its opening price at .9714, to finish the day at .9788. More…

New Zealand

The Kiwi was feelin’ so fly like a G6 during yesterday’s trading when NZD/USD zoomed to the day’s close at .7539 after taking off at .7435. If you do the math, that’s a whopping 104-pip gain yo! More…

Switzerland

D’oh! The franc lost against its major counterparts yesterday on a trace of risk appetite and gloomy statements from Swiss National Bank Chairman Philipp Hildebrand. USD/CHF might have fallen by 77 pips on dollar weakness, but the franc lost against the euro and the pound, with EUR/CHF soaring by 55 pips from its open price at 1.3696. More…