Daily Economic Roundup – April 1, 2010

What’s on the Economic Horizon
US ISM Manufacturing PMI to Post Uptick
German Retail Sales Flat in Feb?
UK Manufacturing PMI to Reach 56.8

United States

The dollar cried uncle against its European counterparts, as it dropped like a hot potato against the euro and pound. Both the EURUSD and GBPUSD pairs rose almost 100 pips from their opening prices. The dollar did however, hold its own against the yen and other majors. Could we see more mixed results today? More…

Euro Zone

Thanks to the combination of good euro zone data and ugly US labor figures, the EURUSD was able to stage a magnificent rally in yesterday’s trading session. The pair closed out the US session at 1.3506, almost 100 pips higher from its Asian session opening price. More…

United Kingdom

The pound extended its winning streak against the dollar and yen yesterday to four and six, respectively. The Cable (GBPUSD) rose to and closed at 1.5174 from 1.5069. The Guppy (GBPJPY) also reached 141.87 from 139.83. More…

Japan

Risk appetite in the forex market drove the yen back on the sidelines yesterday. The yen slipped flat on its face against all of the other major currencies. Will it be able to recover some of its losses today? We’ll see. More…

Canada

Even though the Loonie’s movement was choppy yesterday, it managed to end higher against the US dollar, pushing the USDCAD to a low of 1.0130. The reason for the Loonie’s strength? It’s impressive GDP reading for January! More…

Australia

Wipe out! The Aussie took a nasty fall during the early Asian session after weak retail sales and building approvals reports were released from Australia. Still, the AUDUSD fought to keep its head above the 0.9150 level while the AUDJPY grabbed onto the 85.75 handle. More…

New Zealand

The NZDUSD was directionless in yesterday’s trading session and just bounced around a tight 50-pip range. The pair closed the US session hardly changed at 0.7107, just a mere five pips higher from its Asian session opening price. More…

Switzerland

The Swissy bulls took advantage of the dollar’s weakness in yesterdays trading rounds, bring down the USDCHF pair to monthly lows. My question is, will the 1.0500 handle hold? More…