Daily Economic Roundup – September 13, 2010

What’s on the Economic Horizon
New Zealand Retail Sales Expected To Cool To 0.0%
ECB’s Trichet to Speak in Basel
US Retail Sales Slowing Down?
SNB Monetary Policy Assessment on Tap

United States
Judging by the mixed results the USD got on the charts last Friday, it seems like investors couldn’t agree on a single verdict for the currency… Unlike the movie “The Last Airbender,” which I think we can all agree was a total flop! EURUSD was practically unchanged from its opening price of 1.2705, USDJPY rose 38 pips to 84.20, and GBPUSD dropped 19 pips to close at 1.5358. More…

Euro zone
“Work it harder make it better do it faster makes us stronger” After taking a beating from the markets for most of last week, the euro did a Daft Punk number last Friday on an improvement in risk appetite. EURUSD closed a hair away from its open price at 1.2711 after dropping to an intraday low of 1.2644. Meanwhile, EURJPY inched 54 pips higher to a 107.03 closing price. More…

United Kingdom

Right in line with the recent end of summer trend, GBPUSD stayed within a descending channel, as it fell once it touched upon key resistance. After touching a high of 1.5467 last Friday, the pair dropped 109 pips to find itself right smack in the middle of the channel at 1.5358. More…

Japan
After setting a new 15-year high against the dollar, the yen finally gave up some of its gains to end the week. USDJPY managed to end 38 pips higher on Friday, to finish the week at 84.20. The question tickling my funny bone is, will traders just see this as another (cheaper!) chance to buy the yen? More…

Canada
“It’s so fluffyyyyy!!!” cried the markets last Friday, and no, it’s not because of a unicorn. Apparently, the Loonie bears on got all excited at Canada’s fluffed up employment figures. USDCAD leveled off to its 1.0352 closing price after dropping to an intraday low of 1.0288. Meanwhile, EURCAD rose to an intraday high of 1.3200 before ending the week at 1.3158. More…

Australia
The surf wasn’t the only thing that was up last Friday in Australia! The Aussie climbed once more against the Greenback, extending its wins to complete its trifecta. AUDUSD closed at .9318 after opening at .9297, while AUDJPY leapt from its opening price of 76.94 to close at 78.02. More…

New Zealand
Weeee!!! The Kiwi enjoyed the risk appetite express last Friday when an improvement in risk sentiment boosted the commodity-related currencies. NSDUSD capped the week at 0.7280 after dropping to an intraday low of 0.7228. More…

Switzerland
With risk appetite large and in charge, the Swiss franc sold off faster than Lady Gaga concert tickets! USDCHF flew from its opening price of 1.0153 to hit an intraday high of 1.0279, while EURCHF marked a 63-pip gain for the day. More…