Daily Economic Roundup – October 11, 2010

What’s on the Economic Horizon
Euro zone Industrial Reports on Deck
UK RICS HPI to Tumble down to -36.0
Switzerland PPI to Print 0.2%

United States

When it rains, it pours! The bad news just keeps coming for the U.S. as they published more disappointing economic data last Friday. Worse-than-expected non-farm payrolls numbers caused wild swings in EUR/USD, but the pair continued on its way up and closed at 1.3929, up from 1.3912. Likewise, from its opening price of 82.40, USD/JPY headed south and hit a low of 81.73 before it settled at 82.08. More…

Euro zone

Oh-oh-oh-oh, oh-oh-oh-oh-oh, uh-oh euro, uh-oh my gosh! The euro ended Friday winning only against the dollar with 17 pips as EUR/USD closed at 1.3929. It lost against its other major counterparts, the most against the pound with 41 pips, then the yen with 33 pips, and 26 pips to the Swissy. Is trouble on the euro’s horizon? More…

United Kingdom

Did you smell what the pound was cookin’ last Friday? If you say pips then, ding, ding, ding! GBP/USD closed 95 pips higher at 1.5957 on Friday, choke-slamming a total of 171 pips from the dollar during the week. It was also able to wrestle 41 pips from the euro as EUR/GBP ended the day lower at 0.8729. More…

Japan

De ja vu?! The yen trampled the USD once again as disappointing U.S. data kept the American currency weak against the solid yen. USD/JPY fell to a new low and rested at 82.08 after it had opened at 82.40. More…

Canada

Thanks to the contrasting results between the data from Canada and the U.S., the Loonie was able to post some sweet gains over the Greenback last Friday. USD/CAD closed the week at 1.0113, down 65 pips from its opening price in the Asian session. More…

Australia

“Go hard or go home!” was the battle cry of Aussie bulls as they pushed the currency higher up the charts. AUD/USD finished the week off at .9860 and recorded a 54-pip climb for the day last Friday. More…

New Zealand

After peaking at 0.7541 during the Asian session, the Kiwi went on a strong sell-off and landed on its intraday low at 0.7428. Good thing the com-doll regained its composure during the New York session and hustled to close NZD/USD at 0.7547 with a 56 pip-gain. Sha-bam! More…

Switzerland

The Swissy did it again! After USD/CHF had retraced a couple of pips on Thursday, traders found another reason to sell it off the very next day! USD/CHF closed out the week with at .9638, 102 pips lower from its opening price that week. More…