Daily Economic Roundup – February 21, 2011

What’s on the Economic Horizon

Euro zone to Unload Mixed PMIs
BOE MPC Minutes To Let Loose More Hawks?
Canadian Retail Sales To Show No Growth?

United States

Just like Justin Bieber’s Never Say Never, the Greenback fell across the charts last Friday despite the lack of economic reports released from the U.S. EUR/USD whizzed higher by 79 pips to 1.3686, while USD/JPY plunged to its 83.11 closing price after hitting an intraday high of 83.53. More…

Euro zone

Look, up in the sky! Those ain’t no birds, and they ain’t no planes either! That’s the euro flying high with the hawks of the ECB! A few hawkish words from ECB members boosted the euro as it completed its third consecutive win against the Greenback last Friday. EUR/USD rose another 79 pips and finished at 1.3686 at the end of the day. More…

United Kingdom

The pound looked weightless the way it flew up the charts last Friday! With a solid retail sales report providing the wind beneath its wings, the currency lifted off and carried GBP/USD 65 pips higher to close at 1.6234. More…

Japan

The yen was one of the currencies pushed around by the risk appetite train last Friday when better-than-expected reports popped up in markets and made high-yielding currencies the apple (the fruit – not the company) of markets’ eyes. USD/JPY might have fallen 42 pips to 83.11, but EUR/JPY also climbed by 37 pips to 113.73. Meanwhile, GBP/JPY also peaked at an intraday high of 135.52 before capping the day 21 pips ahead of its open price at 134.91. More…

Canada

With inflationary pressures appearing to die down, the Canadian dollar couldn’t join in on the fun versus the dollar. USD/CAD trading was tight, and the pair ended just 10 pips higher on the day to finish at .9860. More…

Australia

Just like Wiz Khalifa’s Black and Yellow sneaking in the top 20 of AT top 40, the Aussie also sneaked a couple of pips against the Greenback. Risk appetite in markets boosted AUD/USD 30 pips above its open price at 1.0146 after slipping to an intraday low of 1.0089. More…

New Zealand

Another day without data, another win on its card! With no economic reports on tap, risk sentiment and commodity prices directed the Kiwi last Friday. Luckily, risk appetite was alive and kicking, and it boosted NZD/USD up 24 pips to .7614. More…

Switzerland

And just like that, the Swissy recorded a perfect week! Once again, dollar weakness helped USD/CHF slide further down the charts, closing the week .9498. For those of you keeping count, that’s a 250 pip drop for the entire week! More…