Daily Economic Roundup – September 30, 2010

What’s on the Economic Horizon
Canadian Monthly GDP to Print Negative
German Unemployment Change Report on Tap
UK House Prices Down by 0.3%

United States

To QE or not to QE? That is the question that has been bugging the members of the Fed as they attempt to address the US economy’s sluggish growth. Despite the lack of major reports from the US, the dollar continued to fall against its major counterparts. EURUSD, for one, climbed by 51 pips to a closing price of 1.3629 while USDJPY dropped by 30 pips to end the day at 83.66. More…

Euro Zone

Euro zone didn’t release any top-tier economic reports yesterday yet the euro was still able to chalk up some gains against its counterparts. EURUSD climbed to a high of 1.3644 while EURJPY closed 4 pips shy of the 114.00 handle. More…

United Kingdom

Like latest Dancing With the Stars kick-out, Michael Bolton, the pound wasn’t feelin’ the love yesterday either. It shimmied its way to an intraday high of 1.5875 against the dollar, but was unable to hold on to its groove and landed on its tush at 1.5783 with a 10-pip loss. More…

Japan

Oh-oh-oh-my-gosh, the yen is at it again despite a string of disappointing economic reports! USDJPY bottomed at 83.50 before ending the day at 83.66 with a 30-pip gain for the Asian currency. More…

Canada

Despite stronger than expected Canadian inflation reports, the Loonie was unable to sustain its rally against the Greenback yesterday. After dipping to a low of 1.0241, USDCAD zoomed back up to close at 1.0314. More…

Australia

“You’re indestructible… Always believe in, because you are GOLD!” The Aussie sang the Spandau Ballet tune yesterday as it continued to gain against its major counterparts. AUDUSD marked another green candle on the daily chart when it closed 9 pips higher at 0.9685 after hitting an intraday high of 0.9730. More…

New Zealand

“Abort 0.7400 mission, abort!” The Kiwi bulls fell short of successfully trading past the psychological handle as NZDUSD came under selling pressure during the New York session and ended the day 15 pips lower at 0.7379. More…

Switzerland

Oops! The franc slipped a bit in the pip charts yesterday when the KOF economic barometer dipped to 2.21 from its 2.22 figure last August. EURCHF ended the day 52 pips higher at 1.3313, while USDCHF inched 5 pips higher when it closed at .9771. More…