Daily Economic Roundup – March 1, 2011

What’s on the Economic Horizon
BOC To Keep Rates on Hold at 1.00%
Swiss Economy Expanded by 0.5% during Q4 2010?
Fed Head Bernanke Could Talk about QE Today
Euro Zone Unemployment Rate Still at 10.0%?

United States

The Greenback’s performance yesterday was as mixed as the reactions to the Oscar winners. It lost ground to the pound and the commodity currencies but managed to outpace the Japanese yen and the Swiss franc. With a couple of red flags on today’s deck, the U.S. dollar could find a clearer direction today. The question is, which way will it go? More…

Euro Zone

Judging by the way traders bought up the euro yesterday, it seems they’re all convinced it’s only a matter of time before the ECB hikes rates again. In spite of mixed inflation feedback, EUR/USD managed to rise 43 pips to 1.3800! A good way to close the month, but can the euro sustain these gains in March? 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

Sayonara, green candles! The yen’s rally came to abrupt halt yesterday on improvement of risk appetite in markets. Also, mixed reports from the Land of the Rising Sun seem to have energized the yen bears, motivating them to push USD/JPY 9 pips higher at 81.81. EUR/JPY also gained 46 pips at 112.89 after hitting an intraday high of 113.35. More…

Canada

I hope you guys were able to get long on the Loonie yesterday because that thing zoomed up like a rocket! The Loonie hit a new 3-year high against the dollar as Canada’s GDP sent bulls on a buying frenzy. At the end of the day, USD/CAD finished 76 pips lower at .9715. More…

Australia

Will the Aussie be a big winner like the King’s Speech during the Academy Awards? The Australian dollar still managed to squeeze a few gains from the Greenback and the yen yesterday, and today’s big events will determine whether the Aussie can keep up its rally or not. More…

New Zealand

The Kiwi sure likes its pips fast and its retracements down low! Improvement in risk appetite and better-than-expected reports from New Zealand boosted NZD/USD to its intraday high of .7554, with the pair eventually capping the day 29 pips higher than its open price at .7523. More…

Switzerland

Bulls and bears, cast your bets now because the franc is up for grabs! With no Swiss data on tap, it chalked up mixed results against its two major counterparts. USD/CHF inched 8 pips lower to end at .9290 while EUR/CHF ticked 29 pips higher to finish at 1.2820. More…

  • fihunts

    I read you everyday.. But dang it!! Whats going on with the forums???

    cheers buddy!

  • fihunts

    I read you everyday.. But dang it!! Whats going on with the forums???

    cheers buddy!