Daily Economic Roundup – September 29, 2010

What’s on the Economic Horizon

Gfk Consumer Confidence Survey on Deck
Japan’s Retail Sales Seen to Increase 4.6%
Swiss KOF Leading Indicators Expected to Show Improvement

United States

Does the dollar love Ester Dean’s tune or what? It kept on droppin’ it low against its major counterparts yesterday, with EURUSD soaring to 1.3579 after it had dipped to an intraday low of 1.3381. Meanwhile, USDJPY had dropped to near the pre-BOJ intervention levels at 83.69 before it leveled off to close at 83.95. More…

Euro zone

Bow chicka wa wa! The euro sexily strutted its stuff yesterday as it walked up the charts to create new highs against the Greenback and the yen. EURUSD zoomed up from 1.3471 to hit an intraday high of 1.3596 while EURJPY rose from 113.45 to peek at 114.03. More…

United Kingdom

Say hello to yesterday’s big loser! The pound made losing look easy as it fell hard against the USD. Though the UK printed positive reports, GBPUSD slipped from its opening price of 1.5850 to land at 1.5793. More…

Japan

*Sniff sniff* Do I smell another currency intervention? Okay maybe not, but with all the relatively good economic data from Japan highlighting the bad ones in the US, it might just be around the corner! More…

Canada

It looks like the Loonie was unable to find direction again yesterday as it ended the day barely changed against the Greenback. After it had opened the Asian trading session at 1.0283, USDCAD rose merely 19 pips to close the New York trading session at 1.0302. More…

Australia

And it’s at it again! Even without any economic data from Australia, the Aussie was still the cream of the FX crop yesterday when it made new highs against its US counterpart. AUDUSD rocketed to its intraday high of .9687 before closing at .9676. More…

New Zealand

“Yeeeeeeah man!” The Kiwi couldn’t help but quote the words of the great Usher as it celebrated another victory against the USD. After opening at .7346, NZDUSD jumped to hit a high of .7405 before it finally settled at .7392. More…

Switzerland

Thanks to the combination of an optimistic reading on the UBS consumption indicator and the increasing likelihood that the Fed will provide additional stimulus to the US economy, the Swissy was able to shine across the boards yesterday. USDCHF had gone as low as .9738, its lowest level in more than two and a half years, before closing the New York trading session at .9766.Man, the Swissy is on fire! More…