Daily Economic Roundup – February 14, 2011

What’s on the Economic Horizon
Chinese Trade Surplus Narrowed in Jan
New Zealand’s Dec Retail Sales Slumped by 1.1%
Euro Zone Industrial Production Seen at -0.2%

United States

The dollar strutted on the charts last Friday as if it was on a runway in New York fashion week! It traded with swagger against most of its counterparts as EUR/USD tumbled to 1.3497 from its intraday high of 1.3622, while USD/JPY closed at 83.46 after opening at 83.30. More…

Euro Zone

“Oh, na, na, what’s my name?” The euro sang my girl Rihanna’s tunes last Friday when it tried (and failed) to hold on to the currency bulls’ attention. Strong dollar demand and mixed economic reports from the region took its toll on the euro and pushed EUR/USD down by 48 pips to 1.3547, while EUR/JPY also dropped by 17 pips to 113.06. More…

United Kingdom

The pound took another tumble last Friday even though economic figures from the U.K. came in stronger than expected. GBP/USD slid from its open price of 1.6092 to a low of 1.5964 before closing just a couple of pips above the 1.6000 handle. Meanwhile, GBP/JPY dropped almost a hundred pips from Friday’s open price of 134.24. More…

Japan

The yen’s moves on the charts was limited during Friday’s trading as Japanese bankers took a break to chug on some sake in celebration of National Foundation Day. USD/JPY ended the week at 83.46 after opening at 83.30 while EUR/JPY ended the day 17 pips lower at 113.06. More…

Canada

The Loonie must have been inspired by the movie of the kid down my block named Justin Bieber last Friday as it took a never-say-never stance and knocked back a few pips from the Greenback. After reaching an intraday high of .9987, USD/CAD dropped by 119 pips and closed at .9868. Boo yeah! More…

Australia

After opening at 1.0047, AUD/USD tumbled to a low of .9961 as we saw another case of loose lips sink pips. The comdoll tried to stage a comeback during the New York session. Too bad it was only able to hustle to 1.0021 when traders already called it a day. More…

New Zealand

No lovin’ for the Kiwi before Valentines! The Kiwi fell sharply against the Greenback last Friday even though New Zealand didn’t release any economic reports then. It seems that traders were expecting heartbreaking data from the country… and it looks like they were right! More…

Switzerland

Switzerland’s board was as empty as The Last Airbender’s cinemas in 2010, so the franc moved to the groove of risk appetite in markets. Strong dollar demand pushed USD/CHF 34 pips higher at .9732, but EUR/CHF ended the day at a draw at 1.3184. More…