Daily Economic Roundup – March 30, 2011

What’s on the Economic Horizon

U.K. CBI Distributive Sales On Downtrend?
ADP Non-Farm Report On Deck

United States

Whew! After battling with worse-than-expected economic reports from the U.S., the Greenback ticked higher against its pip comrades and capped the day with an 11-pip gain against the euro at 1.4103, 33 pips ahead of the franc at .9206, and a whopping 71 pips ahead of the yen at 82.43. Boo yeah! More…

Euro zone

Now we’ve got ourselves a fight! The battle over EUR/USD was intense yesterday, but the euro was able to edge out a win over the USD. The pair finished the day just 11 pips higher at 1.4103 after the two currencies duked it out amid upbeat euro zone data and hawkish words from the Fed. More…

United Kingdom

Despite the release of good economic data, the pound just couldn’t push past the dollar yesterday and remained in range. GBP/USD tested near the previous day’s high and low before finally settling at 1.5996. More…

Japan

When it rains, it pours! The yen was the biggest loser in the forex arena yesterday, as it got trampled on by all its major counterparts. USD/JPY rose 71 pips to close at 82.43. Meanwhile, EUR/JPY broke past key resistance and is now trading above the 116.00 handle. More…

Canada

Make way for the CAD bulls, they’re charging through!!! Ignoring Canada’s political issues, CAD bulls continued to press forward yesterday as rising commodity prices spurred them on. While the CAD saw modest gains against the USD with USD/CAD falling 19 pips to .9747, CAD/JPY rose 89 pips to close at 84.57. More…

Australia

Make way for the king of the pip streets! For the eight day in a row the Aussie sucker-punched its counterparts and even flirted with making new record highs against the Greenback. AUD/USD rebounded from its intraday low of 1.0204 and finished the day with a 39-pip win to 1.0294. Up top, mates! More…

New Zealand

I bet you didn’t see that coming! The Kiwi continued to muscle through the charts yesterday, forging a new one-month high against the USD. Traders took New Zealand’s smaller-than-expected trade surplus in stride, pushing NZD/USD to from .7523 to .7579. More…

Switzerland

Ka-Pow! The franc took hits against its big pip buddies yesterday as the bulls shied away from a worse-than-expected economic report in Switzerland and a bit of risk appetite in markets. EUR/CHF ended the day with a 64-pip gain, while USD/CHF enjoyed a 33-pip boost to .9206. More…