Daily Economic Roundup – February 25, 2011

What’s on the Economic Horizon

Swiss KOF on Deck
Germany CPI Seen at 0.5%
U.S. Preliminary GDP Expected To Print at 3.3%

United States

“Put your hands in the air say yeah yeah yeah…” The dollar bears were partying in the pip streets yesterday as they pushed the Greenback down the charts. EUR/USD gained by another 54 pips at 1.3801, and USD/JPY plunged by 62 pips to 81.88. Meanwhile, USD/CHF also continued its drop and ended the day 72 pips lower at .9263. More…

Euro zone

Traders continued to swarm all over the euro yesterday like bees as it extended its gains against the dollar. After EUR/USD bottomed at 1.3704, it traded higher and ended the day at the 1.3800 handle. More…

United Kingdom

Boomshakalaka! Was the pound playing NBA Jam? Cause it got dunked on all over the place in yesterday’s trading! The pound was the weakest across the board, with GBP/USD losing 70 pips to end at 1.6138, while GBP/JPY fell a whopping 161 pips to close at 132.11. More…

Japan

Thanks to another run of risk aversion and general dollar weakness, the yen found itself sky high on the charts once again. USD/JPY dropped 72 pips, ending the day at 81.88. Meanwhile, EUR/JPY after hitting a low of 112.20, EUR/JPY closed at 112.99, still good for a 42 pip drop on the day. More…

Canada

The Loonie must have felt like Taio Cruz during yesterday’s trading as it soared higher and higher, tapping its new 3-year high against the dollar at .9817 before ending the day with a 56-pip win at .9832. Boo yeah! More…

Australia

Surf’s up, mates! Despite printing a worse-than-expected economic report, the Aussie roundhouse-kicked the Greenback down the charts. After reaching an intraday high of 1.0124, AUD/USD leveled off to a 78-pip gain at 1.0096. More…

New Zealand

After dipping to its intraday low at .7430 against the dollar, the Kiwi braced itself and sang, “Up, up, here we go!” It then became a rocketeer for the rest of the day’s trading, peaking at .7510 before landing at .7484 with a 24-pip win. More…

Switzerland

Make way for the king of the pip streets! The franc trampled over its major counterparts yesterday as risk aversion persisted in markets. For one, USD/CHF dropped to an intraday low of .9234 before capping the day with a 72-pip loss at .9263. Meanwhile, EUR/CHF also slipped by 48 pips to 1.2784. More…