Daily Economic Roundup – February 17, 2011

What’s on the Economic Horizon

Weidman Appointed as Next Bundesbank President
U.S. CPI, Philly Fed Index, Unemployment Claims All on Tap
CBI Industrial Trends to Give Pound Support?

United States

Wham, bam, thank you Mr. Risk Appetite! Okay, not that catchy, but it definitely was in tune with what the markets sang yesterday! Renewed risk appetite sent higher yielding currencies on a nice run, which sadly, sent the dollar in the opposite direction. EUR/USD rose a good 88 pips from its opening price to end at 1.3571, while AUD/USD rocketed back up above parity to end at 1.0038. More…

Euro zone

Despite the lack of economic reports released from the euro zone, the region’s currency did a Far East Movement number and rocketeered up the charts. A wave of risk appetite in markets boosted EUR/USD by 88 pips to 1.3571, and lifted EUR/JPY all the way to an intraday high of 113.65 before it closed at 113.42. More…

United Kingdom

Mirror, mirror on the wall, who’s the biggest loser of them all? The pound, of course! During yesterday’s trading, GBP/USD fell 200 pips to its intraday low from 1.6187, before it ended the day at 1.6095. More…

Japan

Boy did the yen have lady luck on its side during yesterday’s trading! Despite positive reports from the Fed, it still managed to snatch a 21-pip win against the dollar when USD/JPY settled at 83.16. More…

Canada

Boom! The Loonie turned into a firework and blasted the Greenback to pip deeps even though Canada released mixed economic reports. Now why does this remind me of that hot lady named Katy Perry? Anyway, USD/CAD tipped to an intraday high of .9896 before it fell 46 pips below its closing price and closed at .9850. More…

Australia

With a wave of risk appetite hitting the markets, the Aussie once again found itself trading above parity. AUD/USD rose 87 pips to close at 1.0038. Can the bullish sentiment continue? More…

New Zealand

Screeech! Bulls finally stepped up and hit the breaks on the dollar’s five-day winning streak against the Kiwi. Yesterday NZD/USD closed 41 pips higher at .7554 from its opening price. More…

Switzerland

Whooo! No reports were published from Switzerland yesterday, but the franc bulls just went with risk appetite flows and pushed the franc higher in the charts. Hmm, is it because they’ve watched Jennifer Aniston (who wouldn’t?) and my bro Adam Sandler last weekend in “Just Go With It?” EUR/CHF plunged to 1.3016 after hitting an intraday high of 1.3129, while USD/CHF reached a high of .9740 before capping the day 78 pips lower than its open price at .9594. More…