Daily Economic Roundup – April 18, 2011

What’s on the Economic Horizon

CAD foreign securities purchases on tap
USD bearishness weakens
U.K. hard-hitters due this week

United States

After selling off in the last couple of weeks, it seems the dollar has finally said “Enough is enough!” The dollar bearishness appears to have eased as it was able to chalk up minor gains against most of its major counterparts last Friday. The dollar posted its biggest gains against the euro and the pound, but slid back a bit against the yen and the Aussie. More…

Euro zone

Oooohhh baby, it’s getting interesting! Despite strong CPI figures, the euro found itself trading lower on Friday thanks to concerns about Greek debt. After testing the 1.4500 handle for the billionth time, EUR/USD slowly crawled down the charts to close at 1.4427 for a 67 pip loss on the day. More…

United Kingdom

Just like Cee Lo Green who threw a fit at Coachella, pound bulls also didn’t seem in the mood to hustle in Friday’s trading. GBP/USD traded lower and ended the day 51 pips lower at 1.6296. Meanwhile, GBP/JPY closed the week at 135.41, 100 pips lower from where it opened on Friday. More…

Japan

OM NOM NOM! Yen buyers got their grubs on last Friday as they gobbled up the Japanese currency. Backed by a bit of good data and risk aversion, the yen was able to mark big gains against some of its biggest rivals as USD/JPY fell 37 pips to 83.09 while GBP/JPY dropped 102 pips to 135.40. More…

Canada

With no data on deck, USD/CAD trading was as tight as Big Pippin’s disco pants. The pair traded within a tight range of just 57 pips, closing the day 3 pips higher at .9601. More…

Australia

What a snoozer! Having no economic data to bust a move to, the Aussie was virtually lifeless on the charts last Friday. AUD/USD traded sideways for the entire day, eventually closing just 14 pips higher at 1.0561. More…

New Zealand

Despite being named after a flightless bird, New Zealand’s currency skyrocketed to a new three-year high against the dollar at .7997 amid rising commodity prices. The Kiwi inched a tad lower towards the week’s close and parked at .7991 with a 56-pip win for the day. Boo yeah! More…

Switzerland

Dovish comments weren’t enough to keep the Swissy from extending its winning streak against the euro to five days. After opening at 1.2933, EUR/CHF traded lower and closed Friday’s trading at 1.2875. More…