Daily Economic Roundup – March 15, 2011

What’s on the Economic Horizon

FOMC Statement: Bullish or Bearish for the Dollar?
German ZEW Eco Sentiment Seen at 16.2

United States

Without any economic report from the U.S., the dollar seemed as out of place as Rebecca Black in Youtube’s most watched list yesterday. It was feelin’ so fly in the bull turf when it gained against the comdolls, but it landed in the bear lair against the rest of its major counterparts. More…

Euro zone

The euro’s price action was as mixed as Huck’s Nutty Mocha Latte yesterday when a worse-than-expected economic report wrestled with positive political news from the Euro Zone leaders. EUR/USD logged another 25 pips to its gains at 1.3992, and EUR/JPY inched up by 17 pips at 114.22. On the other side of the charts EUR/CHF dropped to 1.2935 while EUR/GBP fell to .8652. More…

United Kingdom

Just like Battle: Los Angeles ruled over the weekend box office charts, the Sterling pounded its major counterparts yesterday despite a few dovish news from the U.K. GBP/JPY ended the day on the green after dropping to an intraday low of 129.65, and GBP/USD climbed to a high of 1.6199 before closing at 1.6173. Meanwhile, EUR/GBP dropped 29 pips from its open price at .8652. More…

Japan

Action on USD/JPY during yesterday’s trading was as intense as my P90x workout! The yen was off to a weak start during the Asian session as the pair surged to its intraday high at 82.45 from 80.57. Then slowly but surely, it stepped up its game and ended the day with a 3-pip win at 81.63. Whew! More…

Canada

Despite crude oil hitting two weeks lows, we didn’t see much action in the Loonie, with USD/CAD pretty much staying within its daily range. USD/CAD closed just 5 pips higher for the day, closing at .9738. More…

Australia

The Aussie joined its comdoll homies in the losers’ bench during yesterday’s trading. AUD/USD opened at what would be its intraday high at 1.0146 and plunged to a low of 1.0047 before ending the day at 1.0098. More…

New Zealand

So much for a rally! The Kiwi failed to sustain its gains against the Greenback yesterday when risk aversion in markets hit the high-yielding currencies like the New Zealand dollar. NZD/USD dropped as soon as the day started and even fell to an intraday low of .7363 before ending the day 28 pips lower than its open price at .7394. More…

Switzerland

The Swissy started the week off on the right foot, posting gains against both the dollar and the euro. USD/CHF dropped 31 pips to finish at .9244, while EUR/CHF managed to edge 19 pips lower to 1.2935. More…