Daily Economic Roundup – October 5, 2010

What’s on the Economic Horizon

Euro zone retail sales eyed at 0.2%
RBA interest rate decision coming up
UK Services PMI: Upside Surprise?

United States

Ready your pip-breakfast and eat hearty. For tonight, the bulls will sell! HA-OOH! HA-OOH!” The dollar bulls and bears did their own version of the Spartan soldiers yesterday when they pushed the dollar higher against its major counterparts in preparation for the big reports coming to the markets this week. More…

Euro zone

The bulls dumped the euro during yesterday’s trading, much like how John Mayer ditched his Twitter followers. Tsk, tsk. EUR/USD peaked at 1.3807, 11 pips from the week open price, then tumbled to the day’s close at 1.3685. Ouch! More…

United Kingdom

Despite gapping lower to start the week, GBP/USD kept its head above water on the “strength” of good economic data. After opening at 1.5786, the pair rose 46 pips to close at 1.5832. More…

Japan

Kaboom! After it looked like yen was going to tank, it revved up during the European session to take control of the currency markets. After hitting a high at 83.87, USD/JPY lost steam and dropped to 83.42. More…

Canada

The Loonie got as much thumbs downs in yesterday’s trading as Tyra Banks did when she wore a fishnet stocking over her face. Ha! USD/CAD ended the day 25 pips higher at 1.0221, after bottoming at 1.0180. More…

Australia

Are the happy days over for the Aussie? After rocketing against its US counterpart last week, yesterday’s dollar strength and Aussie weakness slipped AUD/USD by 51 pips to its .9680 closing price. More…

New Zealand

The Kiwi joined its com-doll buds on the loser’s bench yesterday as it gave up 33 pips to the dollar, ending the day at 0.7411. More…

Switzerland

What a way to start the week! The franc managed to gain against its major counterparts yesterday despite the lack of reports from Switzerland. EUR/CHF dropped by a whopping 131 pips at 1.3305, while USD/CHF tripped to its closing price of .9722. More…