Daily Economic Roundup – February 9, 2011

What’s on the Economic Horizon

German Trade Balance Seen with a 12 billion EUR Surplus
UK Trade Balance Due Today at 9:30 am GMT

United States

Without any high-caliber report on tap, the dollar was as directionless as Cyclopip when he gets tipsy. It got piptoxicated and gained against the yen and Swissy, but threw up pips against the euro when EUR/USD closed 48 pips higher at 1.3633. More…

Euro zone

“Up up here we go…let’s flyyyyy…” The euro did a Far Eastern Movement number yesterday and rocketed against its major counterparts despite Germany’s worse-than-expected economic data. EUR/JPY rose to 112.27, EUR/CHF went up by 149 pips to 1.3130, and EUR/USD closed 48 pips higher at 1.3633. More…

United Kingdom

The pound bears sent the Sterling down the charts yesterday even though United Kingdom released better-than-expected economic data. GBP/USD slipped by 35 pips to 1.6072, while GBP/JPY dipped by 24 pips after dropping to an intraday low of 131.57. More…

Japan

The yen got a bear hug from traders during yesterday’s trading. Aww, ain’t that sweet? It reached a high of 81.77 against the dollar only to lose it all during the New York session, closing the day with a 4-pip loss at 82.35. Meanwhile, EUR/JPY ended the day 45 pips higher at 112.27. More…

Canada

A surprise 25 basis points rate hike from the People’s Bank of China (PBoC) sent risk traders scurrying for cover yesterday as they exchanged their Loonies for the Greenback. When the trading day was over, USD/CAD was trading at .9947, 50 pips higher from its opening price. More…

Australia

I guess the Aussie wanted to be a pipllionaire so freakin’ bad that not even a rate hike from China could stop it from rallying! After tumbling from 1.0190 to a low of 1.0114, AUD/USD still ended the day 15 pips higher than its opening price at 1.0151. More…

New Zealand

Yawn… What interest rate hike? The Kiwi bulls shrugged off China’s interest rate hike yesterday as if it was another episode of Kourtney and Khloe Take Miami. Even without any economic report from New Zealand, NZD/USD climbed by 45 pips and even reached an intraday high of .7788 before ending the day at .7746. More…

Switzerland

Despite the unemployment report coming in just as expected at 3.5%, the Swissy still found itself trailing behind the Greenback yesterday. After it had opened the day at .9555, USD/CHF rose 78 pips to close the day at .9633. More…