Daily Economic Roundup – April 8, 2011

What’s on the Economic Horizon

Japan Provides 1 Trillion JPY to Aid Recovery
U.K. Producer Prices to Show Rising Inflation?
Canadian Employment Report on Deck

United States

With the spotlight away from the U.S. yesterday, the Greenback capped the day with mixed results against its major counterparts. It lost a few pips to its fellow low-yielding buddies with USD/JPY falling by 51 pips to 84.93, but gained on the high-yielding ones as is shown by EUR/USD’s 28-pip slip to 1.4303. More…

Euro zone

Did y’all hear Trichet’s rate hike holler? Yup! The euro zone’s official cash rate is now up 25 basis points at 1.25%. Oh yeah! But now that the much anticipated announcement is over, will the euro show go on in the bull turf? More…

United Kingdom

With no expectations from the BOE rate decision, Cable stayed steady in yesterday’s trading. GBP/USD traded well within its daily average true range and closed just 13 pips lower for the day at 1.6320. More…

Japan

No amount of bad vibes can take this steamroller down! Despite news of more economic stimulus from the BOJ and another earthquake in Japan, the yen gained on its major counterparts yesterday. USD/JPY slipped by 51 pips to 84.93, while EUR/JPY took a 97-pip hit to 121.47. More…

Canada

After reaching an intraday low of .9625, the Loonie flew to a high of .9570 against the dollar as if it was wearing the new Jordan Fly Wade. Ha! At the end of the day, USD/CAD landed at .9589 with a 14-pip win for the Loonie. More…

Australia

Another record high? *yawn*. Yesterday the Aussie bulls gained momentum on their shopping spree as better-than-expected economic reports from Australia popped up to encourage more Aussie buying. As a result, AUD/USD hit a fresh record high at 1.0508 before finishing the day with a 15-pip win at 1.0459. More…

New Zealand

With a mini-wave of risk aversion hitting the market late yesterday, the Kiwi was unable to build on its nice rally the day before. Still, the losses were minimal as NZD/USD closed just 11 pips lower to end at .7788. More…

Switzerland

The franc ended yesterday’s trading with gains against most of its counterparts. I guess Swissy’s got swagger, huh? It bagged 29 pips from the dollar when it closed at .9160 while EUR/CHF ended the day 68 pips lower from its opening price at 1.3102. Sweet! More…