Daily Economic Roundup – March 25, 2011

What’s on the Economic Horizon
German IFO Business Climate to Dip this Month
Upward Revision in U.S. Final GDP?
SNB Quarterly Bulletin Due Today

United States

Going once…going twice… SOLD! The Greenback was aggressively sold across the board yesterday when investors flocked to the high-yielding currencies in anticipation of interest rate hikes. EUR/USD ended up rising by 90 pips to 1.4177 while GBP/USD dropped to 1.6122. Meanwhile, USD/CHF and USD/JPY capped the day in a near draws. More…

Euro Zone

The euro must’ve been grooving to Mariah Carey’s song “Shake It Off” yesterday as it brushed aside the bad vibes that weighed it down the other day. After dipping to a low of 1.4053, EUR/USD made a comeback and closed at 1.4177. More…

United Kingdom

Good luck trying to find buyers for the pound! Hah! After seeing yesterday’s dismal retail sales data, everyone was quick to ditch the British currency! GBP/USD posted a 113 decline to 1.6122 just as GBP/JPY tumbled 82 pips to 130.55. More...

Japan

All of y’all who stayed out of the markets last week to avoid the wild swings on the yen may want to consider jumping back in now. It seems the markets have finally stabilized! The yen looked very tame on the charts yesterday as USD/JPY stayed within a tight range and closed just 7 pips above its opening price at 80.98. More…

Canada

Way to go, Loonie! The Canadian dollar advanced against the Greenback yesterday, allowing USD/CAD to close below the .9800 handle and land at .9752. Oil prices just keep rising, don’t they? Well, that’s good for the Loonie! More…

Australia

GOOOOOOOOOAL!!! There were no economic reports from Australia yesterday, but the Aussie scored another winning day against the Greenback. Soaring commodity prices supported the comdoll and pushed AUD/USD near its record highs at 1.0229. More…

New Zealand

Not two, not three… but FIVE! That’s how many consecutive days the Kiwi has been climbing up the charts! Coming off a better-than-expected GDP report, the Kiwi staged its strongest rally of the week with NZD/USD rising 85 pips to .7491. More…

Switzerland

Yeehaw! The franc’s price action yesterday was as wild and mixed as Happy Pip’s mixtapes when risk appetite in markets battled with worse-than-expected economic reports in other major economies. USD/CHF ended the day in a draw at .9086, but EUR/CHF leapt its way 78 pips higher at 1.2878. Meanwhile, GBP/CHF dropped like other pound pairs and closed at 1.4641. More…