Daily Economic Roundup – September 22, 2010

What’s on the Economic Horizon

Euro Zone Industrial Orders seen at -1.2%.
Canadian Retail Sales to Rise by 0.5%?
BOE MPC Minutes on the Clock
NZ Q2 GDP at 0.8%?

United States

The dollar stopped, dropped, and rolled down the charts as the Fed’s pessimism set it on fire. It lost against all of its major counterparts, with EURUSD reaching its one-month high at 1.3286 and the euro burning 173 pips to end the day. AUDUSD also tapped its 2-year high at 0.9565 while USDJPY closed lower at 85.10. More…

Euro zone

“I’m the king of the pip-woooorld!!!” The euro felt like Titanic’s Jack Dawson yesterday as the increased appetite for the euro and the dollar weakness boosted the currency to new highs against its major counterparts. More…

United Kingdom

After looking like it was headed for new lows, GBPUSD buckled poor public sector net borrowing figures to finish with a decent gain for the day. The pair closed over 100 pips above its lows for the day, mainly due to dollar weakness. More…

Japan

USDJPY headed south of the charts after opening at 85.75 and closed in favor of the yen at 85.10. Whoohoo! But as of this writing, the pair is already trading below the psychological handle! Am I hearing the bears singing, “Ain’t no intervention can keep us from you”? More…

Canada

“And I just can’t get enough, just can’t get enough” The Loonie did a Depeche Mode number yesterday when it sailed against its US counterpart for the second day in a row despite printing less-than-stellar economic data. While it lost against its other counterparts, the Loonie inched 24 pips higher against the dollar. Sweet! More…

Australia

Whoa! Was there an earthquake yesterday? Or did the Aussie just rock my world after it hit a fresh two-year high against the dollar at 0.9565? Ha! Too bad the com-doll wasn’t able to hang on to its peak as it closed a tad bit lower at 0.9535. But that’s still a 69-pip win so, whoohoo! More…

New Zealand

Bam bam bam! Make that three days in a row of gains for the Kiwi! After struggling in the Asian session, NZDUSD popped up higher to book a gain of 33 pips. Is it headed for the .7400 handle yet again? More…

Switzerland

Is it just me, or are the traders going bananas over the franc? The currency played on mixed price action against its major counterparts yesterday when the euro strength, dollar weakness, and Switzerland’s economic data all factored into a crazy mix. EURCHF flew by 70 pips to its 1.3198 close, while USDCHF ended the day 80 pips lower at a below-parity-level of 0.9971. More…