Daily Economic Roundup – October 6, 2010

What’s on the Economic Horizon

U.S. ADP employment to show uptick for September?
Ivey PMI Expected to Fall
No Revisions for Euro zone Q2 GDP

United States

What a rut the USD is in! After recording a small bounce on Monday, it reverted back to its old ways and recorded losses against its major counterparts. EUR/USD forged a new six-month high as it rose 147 pips to end at 1.3836. Its performance against the yen was just as lame as USD/JPY fell to 83.21 from 83.43. More…

Euro zone

Quick, I think I need CPR! The euro took my breath away when it tapped a new 6-month high against the dollar at 1.3860! Ha! It inched down a bit to close the day with a 147-pip gain at 1.3836. Against the yen, it was able to bag 92 pips as EUR/JPY ended Monday at 115.11. Hollah! More…

United Kingdom

Buyers lined up for the pound when they heard it got swagger thanks to better-than-expected economic reports. After dipping to an intraday low of 1.5752, GBP/USD hustled up to a peak at 1.5931 before finishing of at 1.5892. More…

Japan

Wooooo! What the sushi is going on in the markets? Thanks to some crazy moves by the BOJ, yen trading was all over the place yesterday. EUR/JPY rose nearly 100 pips from its opening price to close above the 115.00 handle. On the other hand, the yen continued to dominate the dollar, as USD/JPY tested the 83.00 handle before closing at 83.21. More…

Canada

“It’s my turn!” screamed the Loonie as it arose victorious against the USD yesterday. It managed to bounce back from its loss to the USD at the start of the week to push USD/CAD lower. At the end of the day, the pair closed 48 pips lower at 1.0173. More…

Australia

Talk about a comeback! After dropping early in the Asian session, the Aussie came roaring back, as it cashed in on the combination of commodity strength and dollar weakness. AUD/USD hit a low of .9542 but bounced back up to close above the .9700 handle. More…

New Zealand

The Kiwi pulled off an Eminem in yesterday’s trading when it soared to its 11-month high at 0.7498 after it bottomed at 0.7359. At the end of the day, the com-doll had bagged a 72-pip win with NZD/USD parked at 0.7484. Now that’s what I call a comeback! More…

Switzerland

If you’ve got it, flaunt it! And that’s exactly what the franc did against the Greenback yesterday. USD/CHF recorded its third consecutive slide and dropped 51 pips to land at .9670. More…

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>