Daily Economic Roundup – April 5, 2011

What’s on the Economic Horizon
RBA to Keep Rates on Hold at 4.75%
U.K. Services PMI on Tap
FOMC Meeting Minutes Due Today

United States

With the dollar’s price action as mixed as Happy Pip’s CD collection, it looks like the currency bulls and bears played a waiting game yesterday! No major economic reports were released from the U.S., but the dollar gained 12 pips on the euro and lost a few pips to its other counterparts. USD/JPY stepped 16 pips back to 84.03 while GBP/USD inched up by 14 pips to 1.6126. More…

Euro Zone

Without any major economic data on tap, action on EUR/USD was as tight as The Undertaker’s jumpsuit. The pair hovered around the week open price of 1.4229 for the most part of the day before closing lower at 1.4217. But it wasn’t all bad for the euro because it was still able to post a new one-year high at 1.4269! More…

United Kingdom

The pound trended on the bulls’ Twitter feed like #justinbeiber as soon as positive data was released from the U.K. GBP/USD tapped an intraday high of 1.6178 before ending the day with a 14-pip win at 1.6126. More…

Japan

Banzai! With the lack of reports from the Japan yesterday, the yen turned ninja and sneaked in a few pips against its major counterparts. USD/JPY dipped by 16 pips to 84.03, EUR/JPY suffered a 35-pip loss at 119.47, and GBP/JPY ended the day 13 pips below its open price at 135.51. More…

Canada

Phew! It looks like the Loonie needed a breather from its recent rallies. After hitting a low of .9616, USD/CAD pulled up and closed at .9675. Is this merely a retracement or the start of a reversal? More…

Australia

And it stops at 11! After eleven consecutive gains against the Greenback, the Aussie bulls finally took a breather and let the bears take over. As a result, AUD/USD slipped by 35 pips to 1.0363 after peaking at an intraday high of 1.0417. More…

New Zealand

Up, up, here we… Bam! The Kiwi was looking to extend its winning streak against the dollar to five days when it got rejected at the .7700 handle. NZD/USD wasn’t able to hang on to its 7-week high at .7705 and closed the day at .7680 with a 6-pip loss. More…

Switzerland

At first, the Swissy put up a good fight against the Greenback, allowing USD/CHF to dip to a low of .9192. However, the Swissy’s gains were erased towards the end of the day as USD/CHF bounced back and landed just 5 pips below its week open price of .9142. More…