Daily Economic Roundup – February 16, 2011

What’s on the Economic Horizon
BOE Governor King Set to Testify Today
Minutes of Latest FOMC Meeting Due
Canadian Manufacturing Sales Up by 2.3%?

United States

The Greenback’s price action yesterday was as mixed as Piña Colada as the U.S. also released mixed economic reports. USD/JPY ended up climbing 55 pips to its 83.83 closing price, but GBP/USD also inched higher at 1.6122. Meanwhile, EUR/USD capped the day almost unchanged at 1.3483. More…

Euro Zone

Valentine’s day was just a couple days ago, but we’re still not seeing much love for the euro! EUR/USD failed to record gains for the fourth day in a row as weak GDP and sentiment numbers kept the pair grounded. In the end, it finished just a hairline below its opening price at 1.3483. More…

United Kingdom

Up, up, and away! The pound decided to take its cue from rising inflation and staged a rally of its own yesterday. Cable climbed 83 pips and finished at 1.6122 while GBP/JPY rose 157 pips and landed at 135.14. More…

Japan

Ouch! The yen took a nasty beating from most of its major counterparts, especially from the pound. GBP/JPY flew by almost 200 pips from its 133.57 open price while USD/JPY came close to the 84.00 handle. Will the yen have a chance to make a comeback today? More…

Canada

Whoops! Looks like Justin Bieber’s Never Say Never wasn’t the only slider in the charts! Canada didn’t release any report yesterday, but the Loonie took a hit against the Greenback. USD/CAD crawled 16 pips higher at .9900 after dropping to an intraday low of .9852. More…

Australia

Boo hoo! That’s another day of losses for the Aussie. AUD/USD slid below parity as it fell from its 1.0035 open price to a low of .9944. What’s in store for the Land Down Under and its currency today? More…

New Zealand

Another day, another loss! I’d hate to be in the Kiwi’s shoes right now. It extended its losing streak to 5 against the Greenback yesterday as NZD/USD slipped 65 pips to .7508. More…

Switzerland

Ta-daaa! The franc performed a magic trick in the charts yesterday by gaining on both the euro and the Greenback despite the lack of economic reports from Switzerland. USD/CHF fell by 27 pips to .9672, while EUR/CHF also dropped by 42 pips to 1.3040 after reaching an intraday high of 1.3139. More…