Daily Economic Roundup – March 4, 2011

What’s on the Economic Horizon

U.K. Halfiax Index Due Today
NFP To Show Strong Rise
CAD Ivey PMI on Deck

United States

The dollar was pushed and tugged all over the charts as the markets scrambled to get their bearings ahead of today’s big NFP report. On one hand, it was able to gain ground against the yen, with USD/JPY rising 48 pips to 82.37. But on the other hand, it lost big time to the euro as EUR/USD rose another 94 pips to end at 1.3960. More…

Euro zone

All Jean Claude Trichet did was open his mouth and bada bing, bada boom, the euro shot up the charts like a raging bull! Thanks to some rather optimistic words by the ECB President, the euro trampled all over its counterparts and became king of the forex jungle yesterday. EUR/USD closed 94 pips higher to end at 1.3960, while EUR/JPY finished at 114.98, good for a 143 pip gain on the day. More…

United Kingdom

Unlike Charlie Sheen’s Twitter account that is still gaining fans by the minute, the pound seems to have lost its appeal in markets. You see, though GBP/JPY gained 29 pips at 134.00, GBP/USD also ended the day 59 pips lower than its 1.6328 open price. I guess the pound just doesn’t have the tigerblood, eh? More…

Japan

Noooo!!! The yen finally gave up its struggle against its counterparts and fell heavily across the charts yesterday on a round of risk appetite in markets. USD/JPY soared by 48 pips to 82.37, while EUR/JPY rocketed by a whopping 143 pips to 114.98 after dropping to an intraday low of 113.10. More…

Canada

Can you say snoozefest? With no data on deck, USD/CAD movement was tight, trading within a range of just 30 pips, with the pair eventually closing at its opening price at .9724. More…

Australia

We got a bit of good news and a bit of bad in Australia yesterday. I guess it should be no surprise that the Aussie’s price action was just as confused. AUD/USD closed 6 pips lower at 1.0158 after swinging high and low, while AUD/JPY managed to march 45 pips higher to 83.68. More…

New Zealand

It’s strike three for the Kiwi! NZD/USD fell for a third day in a row yesterday when the U.S. printed better-than-expected economic reports. The pair tipped to an intraday high of .7474 before calling it quits 17 pips lower than its open price at .7415. More…

Switzerland

Just like James Franco’s hosting job at the Oscars, the Swissy’s performance was a big flop yesterday! With horrendous retail sales weighing it down, it slumped down the charts against its two largest counterparts. EUR/CHF flew 202 pips to 1.3009 while USD/CHF leapt 82 pips to .9820. More…