Daily Economic Roundup – February 7, 2011

What’s on the Economic Horizon

BOE MPC Statement Due Thursday
Aussie Retail Sales Disappoint
German Factory Orders Seen at -1.4%

United States

It seems like dollar bears took the weekend off to start prepping for the Superbowl, as the scrilla overcame poor NFP figures to scored a touchdown last Friday! EUR/USD had a nice carry of 97 yards… I mean pips… before stopping at 1.3638. More…

Euro zone

Unlike hottie Katy Perry, euro bulls weren’t living their pip-filled teenage dreams during Friday’s trading as the euro closed 50 pips lower from its opening price at 1.3585, ending the week almost unchanged against the dollar. More…

United Kingdom

Good data, mixed results! That basically sums up the pound’s performance last Friday. Though the Halifax HPI gave it a bit of support, it couldn’t overcome the dollar as Cable dropped 45 pips to close at 1.6099. GBP/JPY, on the other hand, was able to rack up another positive day as it climbed 64 pips to 132.34. More…

Japan

WEEEEAK SAAAAUCE! No two words can describe the yen’s performance better! It weakened against almost all of its major counterparts last Friday, with USD/JPY rising 62 pips to 82.20 and EUR/JPY climbing 48 pips to 111.70. More…

Canada

With superb data to back it up, the Loonie became the only comdoll to win against the dollar on Friday. It tapped a new three-year high at.9832 before ending the week at .9883, with a 27-pip win for the day. More…

Australia

Despite some pretty hawkish comments from the RBA, the Aussie found itself on the losing end thanks to broadbased USD strength. After touching the 1.0200 handle, AUD/USD slid down the charts to close the week at 1.0141. More…

New Zealand

Just like the bird it was named after, the Kiwi just couldn’t fly last Friday! With no economic data to boost it off the ground, NZD/USD was left at the mercy of U.S. data, which sent the pair tumbling 46 pips to .7687. More…

Switzerland

The Swissy got a bad Rotten Pip-tato review for Friday’s trading as the lack of economic reports from Switzerland left it at the mercy of its counterparts. It lost 92 pips to the dollar as USD/CHF closed at .9546, while EUR/CHF traded higher almost as soon as it opened at 1.2890 and ended the week at 1.2971. More…

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