Daily Economic Roundup – April 19, 2011

What’s on the Economic Horizon

Will PMI reports provide the euro support?
U.S. housing reports on deck!
Canada’s CPI seen higher at 0.7%!

United States

Whoohoo! The dollar must have felt so fly during yesterday’s trading like Kanye West in his grand Coachella entrance. Almost as soon as it opened at 1.4412, EUR/USD tumbled down the charts and ended the day at 1.4232. More…

Euro zone

All together now, everybody say “risk aversion!” The euro experienced a hard fall in yesterday’s trading session due to a wide-reaching case of risk aversion on the news that Standard & Poor, a sovereign credit rating agency, had slashed the U.S. debt rating outlook to negative from stable. EUR/USD closed the day at 1.4232, almost 200 pips lower from its opening price. More…

United Kingdom

Bow chicka wow wow! Unlike my boy Mike Posner’s hit single, the pound wasn’t a winner on the charts yesterday! After hitting an intraday low at 1.6167, GBP/USD managed to close at 1.6264, marking a 44-pip loss. More…

Japan

It’s a bird… It’s a plane… It’s the yen! The Asian currency skyrocketed on the charts yesterday as risk aversion came in full swing. It gained a whopping 209 pips against the euro when EUR/JPY closed at 117.70. Meanwhile, USD/JPY ended the day 44 pips lower at 82.70. More…

Canada

Just like other major currencies, the Loonie gave up a lot of ground in yesterday’s trading session due to a strong case of risk aversion. USD/CAD rose as high as .9722 intraday before settling at .9643. All in all, the pair clocked in a 50-pip gain from its opening price. More…

Australia

The Aussie ain’t no Lady Gaga in a motorcycle, but along with other commodity currencies, it got slammed by risk aversion in yesterday’s trading. AUD/USD tumbled to a low of 1.0454 before closing the day at 1.0512 with a 36-pip loss. More…

New Zealand

Gooooodddbyeeee, ’twas nice knowing you! After testing the .8000 handle, Kiwi bulls disappeared, which led to NZD/USD closing almost 100 pips lower for the day at 0.7913. The question is, can the Kiwi make a comeback like that once famous band Incubus? More…

Switzerland

Mixed trading for the franc yesterday as it bobbed its head to the beat of sentiment against its major counterparts. While USD/CHF rose a decent 33 pips to close at .8966, EUR/CHF continued its free fall down the charts, as it dropped for the sixth day in a row, dropping 114 pips to close at 1.2762. More…