Daily Economic Roundup – April 26, 2011

What’s on the Economic Horizon

U.S. Consumers Feeling More Confident?
Switzerland: Trade Balance and UBS Indicator Due

United States

As most markets were coming back from the holidays, so did the dollar selling that took place last week, with the other safe havens benefitting the most! After hitting a high at 82.43, USD/JPY dropped a solid 74 pips to finish at a closing price of 81.69. Meanwhile, USD/CHF fell 48 pips to end the day at .8808. More…

Euro zone

Ha! It seems like the absence of economic reports had the euro lost like Nemo! While EUR/USD ended the day 20 pips higher from its opening price at 1.4582, EUR/JPY reversed its gains after reaching a high of 120.03. It closed 2 pips lower from its opening price at 119.12. More…

United Kingdom

Even if most banks were closed for the holidays, Cable was still able to display some nice movement in yesterday’s trading session. Cable bounced around aggressively within an 80-pip range, finding resistance at 1.6550 and support at 1.6470. At the end of the U.S. trading session, Cable closed at 1.6494, 37 pips lower from its opening price. More…

Japan

After trading lower during the Asian session, the yen made a slow and steady comeback in the latter sessions. After testing psychological resistance at the 120.00 mark, EUR/JPY dropped all the way back down to end at 119.12, just a few pips off its opening price. USD/JPY traded in a similar fashion, topping out at 82.43 before finishing at 81.69, 13 pips lower for the day. More…

Canada

After dipping to a low of .9504, USD/CAD rallied to its intraday high of .9562 before ending the day 20 pips higher from its opening price at .9546. Why was the Loonie acting looney? More…

Australia

After surging to new all-time highs late last week, the Aussie finally gave back some of its gains in yesterday’s trading showdown. AUD/USD went as low was 1.0684 before recovering a little bit to end at 1.0722, down just 21 pips for the day. More…

New Zealand

Up, down, up, down… Boy, did NZD/USD make me dizzy yesterday! After the pair’s very slow and sideways movement last Friday, NZD/USD burst into life and ping-ponged fiercely between .8038 and .7974. At the end of the day, the pair was 15 pips lower from its opening price. More…

Switzerland

After USD/CHF’s slow and choppy movement last Friday, the pair decided that it was time to get up and shake things up yesterday! From the pair’s day open price at .8856, it had dropped to an intraday low of .8773 before it rose back up to close the day slightly lower at .8808. More…