Daily Economic Roundup – March 11, 2011

What’s on the Economic Horizon
U.S. Core Retail Sales Up by 0.7%?
Chinese Inflation to Slow Down in Feb
Canadian Employment Change Figures Due

United States

Talk about dollar domination! The Greenback put its game face on and strengthened against its major counterparts, as risk aversion took over the markets yesterday. Among the biggest losers were AUD/USD and EUR/USD, which both suffered from disappointing economic news. More…

Euro Zone

Whenever the risk aversion tune comes up, bears make the euro drop fast and tap a low. After opening at 1.3904, EUR/USD plunged all the way to it’s 6-day low at 1.3775 before closing at 1.3790. More…

United Kingdom

Party’s over, folks! The bulls’ celebration was cut short yesterday as upbeat economic figures were no match to the BOE’s stubbornness to hike rates. After a brief bounce at the start of the London session, GBP/USD dove head-first to hit 1.6051, locking in a 150-pip slide for the day. More…

Japan

The scene just keeps getting worse in Japan, but the yen doesn’t seem to mind too much! It was able to make massive gains against all of its counterparts, save for the dollar and Swissy. Just as Big Pippin had suspected, USD/JPY continued rising, while EUR/JPY fell 63 pips and closed at 114.36. More…

Canada

Screeeech! Bam! After tapping a three-year high against the dollar, the Loonie crashed and burned in the bear lair yesterday as risk aversion drove market sentiment. USD/CAD sped up all the way to its closing price of .9758 after opening at .9687. More…

Australia

Parity, baby! The Australian dollar reached parity with its U.S. counterpart yesterday, but that isn’t a good thing because it meant a hundred pip drop from the 1.0100 area. Ouch! Will AUD/USD be able to recover today or will 1.0000 give way? Hey, that rhymes! More…

New Zealand

It was a quiet day in New Zealand, but the Kiwi was anything but silent on the charts! Without any new reports to back it up in the past 24 hours, NZD/USD continued to free-fall, dropping 31 pips to close at .7346 at the end of the day. More…

Switzerland

Without anything economic yodels from Switzerland, the Swissy’s scorecard for yesterday’s trading was as mixed as a Long Island Iced Tea. USD/CHF ended the day 23 pips higher at .9321 while EUR/CHF parked 74 pips lower at 1.2853. More…