Daily Economic Roundup – February 28, 2011

What’s on the Economic Horizon
Canadian Monthly GDP Up by 0.3%?
Euro Zone CPI Due Today
U.S. Pending Home Sales Probably Dipped in December

United States

And the dollar’s slide continues! Weak economic data mixed with dovish comments from FOMC members to deal the dollar another dose of poison that sent USD/JPY 22 pips to 81.66. Against the euro, it fared much better as the euro had problems of its own to deal with. EUR/USD fell 48 pips to 1.3753. More…

Euro Zone

Despite positive economic reports, the euro still gave up 48 pips to the dollar during Friday’s trading when it closed at 1.3753. Boo! But it wasn’t all that bad. EUR/USD was still up 49 pips for the entire week. More…

United Kingdom

After reaching an intraday high of 1.6161, the pound lost the upperhand to the dollar and hit rock-bottom at 1.6031. Ouch! It then traded higher but there weren’t enough good vibes to fuel the bulls. The pair ended Friday’s trading 23 pips lower from its opening price at 1.6115. More…

Japan

“Up, up, here we go,” sang the Japanese yen last Friday as it rocketed against most of its major counterparts. USD/JPY closed out at 81.66 while EUR/JPY fell 70 pips from its open price of 113.00. Can the yen continue to fly this week? More…

Canada

Y’all can’t touch this! Once again, the Canadian dollar strutted its stuff on the forex dance floor as commodities kept the comdolls dancing. When the last song came to an end, USD/CAD finished 46 pips lower at .9786. More…

Australia

Talk about a g’day mate! The Aussie continued its winning streak against the Greenback and the yen, as AUD/USD ended at 1.0175 while AUD/JPY landed 9 pips above the 83.00 handle. Will it be continue to outpace the safe havens this week? More…

New Zealand

Oh Kiwi, you’re so fine you blow my mind! The absence of economic reports was no problem for the comdoll as NZD/USD ended Friday’s trading 24 pips higher from its opening price at .7509. And that’s three wins in a row for the Kiwi yo! More…

Switzerland

Swissy bulls eased off the gas pedal last Friday in spite of a strong KOF economic barometer reading. USD/CHF climbed 21 pips to .9283 while EUR/CHF slowed its descent and finished 17 pips lower at 1.2767. More…