Daily Economic Roundup – March 17, 2011

What’s on the Economic Horizon

Yen Hits All-time High
NZ Westpac Consumer Sentiment Due Late Tonight
SNB Rate Statement Today

United States

With all the hoopla that popped up in markets yesterday, the Greenback’s price action was as mixed as the personalities of Happy Pip’s friends. While USD/CHF and USD/JPY dropped to RECORD LOWS, EUR/USD plunged by 99 pips to 1.3899. Meanwhile, GBP/USD also took a 53-pip hit and ended the day at 1.6026. More…

Euro zone

Wapack! Thanks to yet another credit downgrade as well as overall risk aversion in the markets, EUR/USD found itself on the losing end of the forex trading stick yesterday. After finding tough resistance at the 1.4000 level, EUR/USD dropped over 100 pips before finally closing at 1.3899. More…

United Kingdom

Keep an eye on the sky because the pound is fallin’! A better-than-expected showing from the claimant count report failed to catch the pound’s fall as GBP/USD dropped another 53 pips while GBP/JPY slid another 224 pips during yesterday’s trading. More…

Japan

Boy do I feel bad for anyone who shorted the yen. That baby has been ridonculously strong! New explosions in Japan’s nuclear facilities saw USD/JPY close at 79.59 with a 113-pip slide yesterday, but earlier today, it hit a NEW ALL-TIME LOW at 76.42. You’re watching history in the making, kids! More…

Canada

I guess Canada’s maple syrup wasn’t the only sweet treat for the currency bears! Despite a better-than-expected economic report from Canada, USD/CAD rose for the third day in a row yesterday. Heck, the pair even tipped to an intraday high of .9967 before calling it quits at .9911! More…

Australia

Aussie bears didn’t need much help from the disappointing reports yesterday… Given the general market sentiment, they would’ve been fine on their own! AUD/USD posted a 61-pip fall to land at .9839 just as AUD/JPY dipped 168 pips to 78.31. More…

New Zealand

Bada bing, bada boom! For the third day in a row, NZD/USD dropped down the charts, as risk aversion pushed higher yielding currencies off the edge. After opening at .7319, NZD/USD closed 40 pips to finish at .7279. More…

Switzerland

Man, the franc is on a roll! The franc clobbered its major counterparts yesterday when risk aversion escalated in markets and sent the low-yielding currencies higher in the charts. Swissy lost another 82 pips while EUR/CHF plunged by a whopping 209 pips. Talk about being king of the pip-hills! More…

  • zenpxn

    loved that yen ride yesterday as i rode it all the way into the sunset…i shorted 20 lots just at the right time and then when i had an inkling it was getting way too low i reversed strategy and bought and watched that puppy SOAR! BOOYAKASHAH!!! I made a lot of money yesterday.

  • zenpxn

    …and yeah – i also cleared about a G on the swizzy too! THANK YOU so much for putting this site together for me to learn! I am still a newbie and have a LOT to learn, but boy am i ever excited.

    Y’ALL ARE LIFESAVERS!

    \…zen pxn wishes many blessings on you and your lives./

  • zenpxn

    loved that yen ride yesterday as i rode it all the way into the sunset…i shorted 20 lots just at the right time and then when i had an inkling it was getting way too low i reversed strategy and bought and watched that puppy SOAR! BOOYAKASHAH!!! I made a lot of money yesterday.

  • zenpxn

    …and yeah – i also cleared about a G on the swizzy too! THANK YOU so much for putting this site together for me to learn! I am still a newbie and have a LOT to learn, but boy am i ever excited.

    Y’ALL ARE LIFESAVERS!

    \…zen pxn wishes many blessings on you and your lives./

  • PipDiddy

    @zenpxn People like you make what we do so worth it! Thank you! Good luck in your trading career!

  • PipDiddy

    @zenpxn People like you make what we do so worth it! Thank you! Good luck in your trading career!