Daily Economic Roundup – September 28, 2010

What’s on the Economic Horizon

S&P HPI and CB Consumer Confidence Survey on Deck
Final Revision on UK’s 2nd Quarter GDP Today
New Zealand’s Trade Balance Expected to Shrink to 74 million NZD

United States

The absence of any economic data from the US kept the Greenback mostly stuck in range across the charts yesterday. EURUSD, for instance, simply paced back and forth between support at 1.3425 and resistance at the 1.3500 handle. More…

Euro zone

Action on EURUSD was about as boring as it could get. Heck, it put me to sleep faster than a lullaby from Cyclopip! (Just kidding. Cyclopip has a terrible singing voice!) Traders refused to take the pair anywhere as EURUSD traded sideways and closed just 15 pips lower at 1.3472. More…

United Kingdom

After opening the week at 1.5822, Cable slow-danced within an 80-pip range and ended the day only 17 pips higher at 1.5839. So, to what beat did the pound bulls cha-cha to yesterday? More…

Japan

Whoa! USDJPY’s tight, 29-pip range yesterday reminded me so much of Forex Gump’s superfit-spandex muscle shirt. Ha! The pair opened the week at 84.37 and inched to an intraday high of 84.40. It then bottomed at 84.11 before it ended the day at 84.22.More…

Canada

Someone ought to teach the Loonie to throw a simple one-two combination! It failed to follow up its victory last Friday with a win as it tapped out to the already-weakened USD yesterday. USDCAD traded flat for most of the day, only to make a slow and steady climb late in the New York trading session. In the end, it closed at 1.0283, 37 pips higher for the day. More…

Australia

Someone call the fire department ’cause the Aussie is smokin’! It once again posted a fresh 26-month high against the dollar at 0.9645 before it ended Monday at 0.9621 with a 15-pip win. More…

New Zealand

Et tu, Kiwi?! The Kiwi was one of the many currencies that refused to move yesterday. Do these guys need coffee or what?! NZDUSD traded within a tight 40-pip range and finished at .7345 to lock in a 12-pip loss for the day. More…

Switzerland

Zzzz, what a directionless day of trading it was for the Swissy! USDCHF was unable to make waves on the charts yesterday as it traded within a tight 55 pip range. It found major support at .9817 and significant resistance at .9872. More…