Daily Economic Roundup – April 12, 2011

What’s on the Economic Horizon
BOC to Keep Rates on Hold at 1.00%
German ZEW Economic Sentiment to Dip this Month
U.K. CPI Still at 4.4%?

United States

With no hardcore data coming out, risk hungry investors took a break allowing the dollar to edge slightly higher versus its major counterparts. EUR/USD closed 26 pips to finish at 1.4428, while GBP/USD fell 29 pips to end at 1.6348. More…

Euro Zone

Boo hoo, it was a losing day for the euro. EUR/USD barely made it to the 1.4500 level before it slid down and closed at 1.4428. EUR/JPY didn’t have such a good day either, as it fell to a low of 122.02 and ended at 122.10. More…

United Kingdom

Sell, sell, sell! Pound traders were all about selling yesterday as they had little reason to hold on to the currency with only light economic data on tap. As a result, Cable ended the day 30 pips lower at 1.6348 after a failed attempt to close above the 1.6400 handle. More…

Japan

Thanks to a brief relief rally, the yen managed to come out as the big winner in the Forex arena yesterday. EUR/JPY and GBP/JPY dropped 72 and 73 pips respectively to close at 122.10 and 138.36. More…

Canada

Aha! Is this a pullback I see with the Loonie or is it about to reverse? USD/CAD seems to have bottomed out at the .9950 area after crude oil sank back below the 110.00 handle. Have the crude oil and Loonie rallies come to an end? More…

Australia

Things are goin’ under in the Land Down Under! The Aussie posted its biggest loss against the Greenback in a month as commodities took a spill yesterday. Without support from commodities, AUD/USD retreated from a fresh high of 1.0582 and headed south to post a 68-pip dip for the day at 1.0488. More…

New Zealand

Easy come, easy go! Just as quickly as Kiwi buyers had swooped in to buy the Kiwi last Friday, they disappeared to abandon it yesterday! With commodities sliding back, the Kiwi lost support against the Greenback, causing NZD/USD to drop 33 pips to .7793. More…

Switzerland

The dollar may have beefed up against most if its counterparts yesterday, but the Swissy held its ground! Even with no support from economic data, USD/CHF extended its slide to four straight days as it finished 14 pips lower at .9068. More…