Daily Economic Roundup – April 13, 2011

What’s on the Economic Horizon
U.S. March Retail Sales Report to Print 0.6% Increase
U.K. Unemployment Rate Still at 8.0%?
Euro Zone Industrial Production Report Due Today

United States

The Greenback’s performance was as mixed as a bag of nuts as it ended higher against the Loonie, Aussie, and pound but was outpaced by the rest of the major currencies. Will the upcoming U.S. retail sales report set a clearer direction for the Greenback? More…

Euro Zone

The euro may have slipped at the start of the week, but it made up for it by racing up the charts yesterday! It shook off yesterday’s poor economic data as EUR/USD briefly rose above the 1.4500 handle and eventually settled at 1.4477 for a 49-pip gain. More…

United Kingdom

I said a bang, bang, bangity-bang, a bang, bang, bangity-bang! Thanks to weaker than expected economic data and general risk aversion, the pound got blown out of the water yesterday. GBP/USD dropped nearly 100 pips to finish at 1.6264, while GBP/JPY slid 220 pips all the way down to 136.13! More…

Japan

Another one strikes Japan! Just when almost everyone thought that Japan is already getting back on its feet after the March 11 quake, a couple of strong aftershocks shook the nation. How did the yen react? More…

Canada

No rate hike means no love for the Loonie! The Canadian currency fell under bearish sentiment yesterday after the Bank of Canada disappointed the markets with its decision to leave interest rates unchanged. As a result, USD/CAD formed a bullish daily candlestick, climbing 65 pips to close at .9629. More…

Australia

Is the Aussie about to go down under? AUD/USD dipped to the 1.0400 level yesterday but managed to bounce back and end at 1.0491. AUD/JPY’s performance was much worse, as it opened at 88.76 then closed at 87.58. More…

New Zealand

Bada-bing, bada-boom! Even with no data on deck, the Kiwi managed to shake off some early losses to climb up the charts. After hitting an intraday low at 0.7745, NZD/USD climbed almost 100 pips to finish at 0.7835, enough for a 43 pip gain on the day. More…

Switzerland

Make that five in a row! The franc continued its win streak versus the dollar, boosted by a wave of risk aversion that swept the markets. USD/CHF closed at .8970, almost 100 pips lower from its opening price and isr is now fast approaching the 2011 low at .8923 set nearly one month ago. More…