Daily Economic Roundup – February 8, 2010

What’s on the Economic Horizon

Euro zone Investor Confidence to Improve in Feb
Housing Starts in Canada to Edge Higher
Switzerland’s Year-on-Year Retail Sales Seen At 1.3%

United States

Well, the dollar continued to make its mark on the markets by once again trumping the other majors last Friday. And despite the mild rally in the US equities markets, the dollar was still able to keep its head above water. The question now is will the dollar be able to maintain its top position this week? More…

Euro Zone

Nothing could put a smile on the EUR’s face last week when it suffered loss after loss against the USD and JPY. Weak economic data released last Friday contributed to further selling pressure on the EUR, causing the EURUSD to tumble to the 1.3600 handle. More…

United Kingdom

Tough week for the pound as it got crushed by wave upon wave of dollar buying. Cable dropped by 300 pips to finish last week at 1.5630, marking the third straight week that the GBPUSD pair has closed lower. More…

Japan

After a day of superb gains versus the EUR and GBP, the JPY was merciful in Friday’s trading session. The yen posted minimal gains after attempting to hit new highs. Can the yen sustain this momentum or will it give back its winnings this week? More…

Canada

Despite the strong case of risk aversion last week, the Loonie was able to keep its ground against the US dollar. The USDCAD was hardly changed, closing the week at 1.0701, a mere five pips lower from its week open price of 1.0706. More…

Australia

The Aussie took a turn for the worst last week when the RBA decided to keep rates steady. From its week open price of 0.8800, the commodity-based currency took a major hit, falling almost 150 pips to close out Friday at 0.8672. More…

New Zealand

After staying range-bound prior to the US session, he NZDUSD had a hit-and-run with the 0.6800 area last Friday after the US employment report came short of consensus. New Zealand did not release any economic reports on that day. More…

Switzerland

The Swissy, for the third day in a row, slid against the greenback last Friday despite the rebound in the US capitals markets. The USDCHF climbed to as high as 1.0796 from 1.0657 before settling at 1.0729. More…