Daily Economic Roundup – April 27, 2011

What’s on the Economic Horizon

Market Focus Turns to FOMC
ECB: Greek Restructuring Worse than Lehman Collapse
U.K. GDP Expected to Turn to Positive Again

United States

The Greenback found itself in a world of hurt yesterday as traders dumped it in favor of other major currencies. EUR/USD, for instance, had rallied to a new year-to-date high at 1.4658 before it closed the U.S. trading session at 1.4582. More…

Euro zone

The euro bulls are on a roll! Even though debt concerns in the Euro Zone has escalated, the euro still managed to post gains against its major counterparts yesterday. EUR/USD reached new highs at an intraday high of 1.4658, while EUR/JPY tacked a 26-pip gain at 119.37. More…

United Kingdom

Whoa! Did pound bulls ditch the charts to get ready for the Royal Wedding? GBP/USD seesawed between resistance at 1.6500 and support at 1.6450 in yesterday’s trading before closing at 1.6475. With a 25-pip loss, the pound was the only major currency that lost to the dollar. Boo! More…

Japan

The yen’s movement across the yesterday was as mixed as a bag of nuts! The currency was able to gain versus the pound and the dollar, but lose out against the euro and the Aussie. More…

Canada

Whew! Like drinking sweet lemonade under the scorching sun, the Loonie ended its drought and capped the day higher against the Greenback after losing ground for three consecutive days. USD/CAD ended up falling to an intraday low before it closed 27 pips lower than its open price at .9519. More…

Australia

When there’s a will, there’s a way! After losing out a couple of pips on Monday, the Aussie bulls decided to finally step up their game and fight back yesterday. By the end of the U.S. trading session, the Aussie bulls were able to take AUD/UDS to 1.0781, almost 60 pips higher from its opening price during the Asian session. More…

New Zealand

Yowza! Did y’all see the Kiwi fly to its new three-year high against the dollar during yesterday’s trading? Yup it did! NZD/USD peaked at .8071 before closing 63 pips higher from its opening price at .8064. More…

Switzerland

Despite mixed data from Switzerland, the Swissy was still able to tap a new all-time high against the dollar (for what seems like the gazillionth time) at .8746. It then settled at .8758 at the end of the day with a 50-pip win. More…