Daily Economic Roundup – April 21, 2011

What’s on the Economic Horizon
Australia’s PPI Rises to 1.2% in the Fourth Quarter
Franc hits fresh highs against the Greenback

UK Retail Sales report on tap

United States
Not since my last Call of Duty session with Pipcrawler have I seen such a brutal beating! The dollar was the biggest loser yesterday, taking hits across the board as risk appetite continued to stir up the markets. EUR/USD is now above key resistance at 1.4500 after testing the 1.4200 handle earlier this week. Meanwhile, the comdolls are all at or are testing for new highs. More…

Euro zone

Talk about record-breaking! EUR/USD made a new yearly high yesterday as it reached 1.4547 before closing at 1.4513. EUR/JPY had a good day as well since it chalked up a 215-pip rally from its 118.25 open price to a high of 120.40. More…

United Kingdom

No grounding by the MPC was gonna stop the pound from joining the risk appetite party! Despite dovish comments from the MPC, cable was able to come out ahead, imposing its might on the dollar and yen. GBP/USD closed at 1.6402 after opening at 1.6311, while GBP/JPY finished at 135.11, good for a 51 pip gain. More…

Japan

The Japanese yen was bullied by its major counterparts yesterday so it took out its rage on the U.S. dollar. Because of that, USD/JPY ended the day 73 pips down from its intraday high of 83.11. I guess we all know which is the weaker safe-haven now, huh? More…

Canada

Looks like the Loonie got on the risk appetite train yesterday! Despite the lack of economic reports from Canada, USD/CAD dropped to a fresh low at .9497 before it closed with a 32-pip loss at .9533. More…

Australia

Someone call the fire department because the Aussie is out of control! Better-than-expected economic reports from Australia and a surge of risk appetite in markets pushed AUD/USD to a fresh record high of 1.0692 yesterday, with the pair capping the day at 1.0678. More…

New Zealand

Like its comdoll buddies, the Kiwi enjoyed a good round of risk appetite in markets. NZD/USD ended the day with a 71-pip gain at .7950 after hitting an intraday high of .8009. And to think New Zealand didn’t even release an economic report! More…

Switzerland

The franc sure has its own way of keepin’ it fresh! Yesterday USD/CHF dropped to a fresh record low of .8879 while EUR/CHF dropped from an intraday high of 1.2974 to close only a pip higher than its open price at 1.2895. More…

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