Daily Economic Roundup – September 7, 2010

What’s on the Economic Horizon
RBA to Leave Rates Unchanged
UK House Prices Down by 0.3%
German Factory Orders on Deck

United States

With everyone out on holiday, it comes as no surprise that action on the charts yesterday was as “exciting” as a Tim Duncan dunk. In other words, it was a snoozer! Just like the San Antonio Spurs’ center, the mighty USD muscled through its opponents and managed to make modest gains against the yen, pound, and euro. In the end, EURUSD closed 18 pips lower for the day at 1.2875. More…

Euro Zone

The euro was enjoying the market’s spotlight as it reached its three-week high at 1.2919 against the dollar when the bears started to rain on its parade. Doesn’t that just remind you of how Taylor Swift was so rudely interrupted by Kanye West during her speech in last year’s MTV Video Awards? Ugh! More…

United Kingdom

Boy did the pound get some poundin’ from the bears yesterday! GBPUSD hustled to its intraday high of 1.5490 only to tumble to 1.5347 before closing the day at 1.5399. Ouch! Against the euro the pound slumped to its six-week low at 0.8391 before settled it at 0.8365 to start the week with a 12-pip loss. More…

Japan

Because of the lack of market players yesterday, the yen was forced to settle for stalemates against its biggest rivals. USDJPY rose just 5 pips, while EURJPY fell 9 pips, and GBPJPY dropped 18 pips for the day. More…

Canada

The Loonie obviously missed the presence of most US and Canadian traders who were off enjoying their Labor Day holiday yesterday. Price movement was relatively limited, with the Loonie slowly trying to score a few gains agains the Greenback. USDCAD started off at 1.0393 and closed at 1.0352. More…

Australia

It was a g’day for all the mates down in Australia yesterday. The Aussie was one of the few currencies that were able to make ground against the Greenback as AUDUSD jumped from its opening price of .9143 to close at .9171. I know it doesn’t sound like much, but given the lack of activity throughout the charts yesterday, it’s impressive enough! More…

New Zealand

The Kiwi showed off its swagger on the charts yesterday as it skyrocketed to its four-week high at 0.7257 against the dollar. Boo yeah! NZDUSD closed slightly lower at 0.7232 but it was all good for the commodity currency as it ended the day with a 46-pip win. More…

Switzerland

Yawn… USDCHF was off to a slow start yesterday as it consolidated right above the 1.0150 area. Later on, the Swissy jumped into action and outpaced the Greenback, pushing USDCHF to a low of 1.0109. More…