Daily Economic Roundup – February 11, 2011

What’s on the Economic Horizon
U.S. Trade Balance and University of Michigan Consumer Survey on Deck

Germany’s Inflation at -0.5%?
U.K.’s PPI to Report a 1.3% Rise

United States

HA-OOH! HA-OOH! The Greenback once again showed who’s king of the pip hill yesterday after it roundhouse-kicked most of its major counterparts down the charts on a bit of risk aversion and better-than-expected economic data. EUR/USD fell by a whopping 140 pips to 1.3594, while USD/JPY sneaked a 93-pip gain at 83.30. More…

Euro zone

Due to sovereign debt fears resurfacing, the euro found itself losing ground across the board yesterday. The shared currency fell back below the 1.3600 handle after it had opened the day at 1.3735 against the dollar and also dropped to .8449 versus the pound. More…

United Kingdom

The pound got to tread on both the winning side and the losing side as yesterday’s weak data and rate decision failed to move the currency in a single direction. While Cable dropped slightly from 1.6104 to 1.6091, GBP/JPY rallied hard to post a 138-pip gain and close at 134.03. More…

Japan

Geronimooooo! The yen fell fast and hard yesterday as it failed to get a boost from the only report released. It recorded its biggest loss against the dollar as USD/JPY climbed 107 pips and closed at 83.30. More…

Canada

Tough luck, buddy! The Loonie had trouble sustaining its gains against the Greenback yesterday on strong dollar demand and poor comdoll market environment. USD/CAD capped the day with a 20-pip gain after peaking at an intraday high of .9989. More…

Australia

Awesome employment numbers but massive losses for the Aussie? What gives?! In spite of seemingly bullish employment data, AUD/USD slipped 72 pips down the charts and finished the day off at 1.0046. More…

New Zealand

Hah! It looks like the Kiwi also caught the risk aversion flu! Apparently, euro zone debt problems were re-ignited yesterday, which sent the high-yielders scrambling for cover. From its open price of .7721, NZD/USD fell almost 100 pips to close the day very weak at .7626. More…

Switzerland

KA-BLAM!!! The franc got clobbered by the dollar and the euro yesterday when Switzerland released its less-than-legendary economic report. USD/CHF rocketed by 120 pips to .9698, while EUR/CHF gained by 29 pips to 1.3155. More…