Daily Economic Roundup – April 1, 2011

What’s on the Economic Horizon

U.S. Expected to Have Created 191,000 Jobs in March
U.K.’s Manufacturing PMI on the Docket

United States

If the dollar’s price action was a character in Batman yesterday, it would be Two-Face! Why, you ask? If you look at the charts, you’d see that the dollar moved in two distinct waves yesterday. It fell during the Asian session, but eventually rose and managed to recuperate some of its losses during the U.S. trading session. More…

Euro zone

Yesterday, the euro zone announced that it’ll be ditching the euro and will be making m&ms its official shared currency. Psych! April Fools’ yo! Haha! Jokes aside, a stronger than expected CPI reading and not-so-bearish results from Irish stress tests allowed the euro to hold its head high yesterday. EUR/USD ended the day 48 pips higher at 1.4173 just as EUR/JPY surged 80 pips to close at 117.90. More…

United Kingdom

The pound was feeling generous in giving away pips to the dollar yesterday’s trading. Aaw, ain’t that sweet? Err, no. GBP/USD fell from its intraday high of 1.6152 all the way down to 1.6016 where it bottomed. Good thing it was able to pare some of its losses and close the day at 1.6044. More…

Japan

It seems like bears started their April fool’s joke early on the yen by hiding its mojo! It reached only as high as 82.56 against the dollar before ending the day with a 29-pip loss. Meanwhile against the euro, it lost 80 pips as EUR/JPY parked at 117.90 at the end of the day. More…

Canada

The CAD is UNSTOPPABLE! Once again, it powered through its American counterpart, backed by another solid GDP report. USD/CAD continued to trade lower, forging a new two-week low and closing the day 20 pips lower at .9694. More…

Australia

What a day for the Aussie! Despite ending the U.S. trading session barely change against the Greenback, the Aussie was able to mark another new 29-year high. It rose as high as 1.0373 before dropping back down and settling at 1.0329. More…

New Zealand

Staying at number one ain’t easy, huh? The Kiwi lost its spot on the comdoll scoreboard yesterday as it struggled to keep its gains against the dollar. NZD/USD dropped to a low of .7582 during the Tokyo session before rallying to close the day with a measly 4-pip win at .7631. More…

Switzerland

If you’re a fan of V for Vendetta, you would’ve loved trading USD/CHF! The franc traded in a perfect “V” against the dollar yesterday as USD/CHF traded to a low of .9127 before it bounced back up to finish the day at .9182 with a 9-pip slide. More…