Daily Economic Roundup – April 5, 2010

What’s on the Economic Horizon

US Pending Home Sales Could Dip 0.6% in Feb
The BOE Widely Expected to Keep Rates Unchanged
NZ: NZIER Business Confidence Index on Deck

United States

A positive NFP reading, whee! It was a Good Friday, Good Payrolls for the greenback indeed as my buddy Forex Gump pointed out. Although the greenback ended higher against most major currencies, its gains against the commodity-based currencies were limited. More…

Euro zone

Woooooo! It was a pretty quiet trading day, but once the US NFP report released favorable figures, the euro took a hit as traders bought up the dollar. The EURUSD ended the day below the 1.3500 handle. More…

Japan

The yen proved to be the biggest loser in last week’s trading sessions, falling in value against most major currencies. It looks like improving risk appetite will continue to put downward pressure on the yen’s value. More…

United Kingdom

Thanks to improved risk appetite, the GBPUSD was one of the greatest performers last week, rising up more than 250 pips to close out last Friday above the 1.5200 handle. Given the strong case of risk appetite, would we see the GBPUSD stage another stellar rally this week? More…

Canada

The Loonie surrendered some of its winnings over the greenback last Friday. The USDCAD, after nearly reaching its 15-month low, retraced a bit back to 1.0108 from 1.0084. Will the Loonie finally make a run towards dollar parity? More…

Australia

The Aussie extended its run vis-à-vis the yen last Friday to five. The AUDJPY rose to and closed at 86.91 from 86.41 and also marked a new 6-month high at 87.09. Will the Aussie be able to continue its strong move upward? Maybe. More…

New Zealand

Trading was so peaceful on the Kiwi front, that I could hear sheep chew on the grass! Okay, not really, but trading was pretty tight, as the NZDUSD stayed within at 35 pip range, closing at 0.7059. More…

Switzerland

The Swissy got trampled on during the greenback’s NFP parade last Friday, pushing the USDCHF to a high of 1.0644 during the US session. Meanwhile, the EURCHF spiked back to the 1.4400 area as SNB officials commented on the recent appreciation of the Swissy. More…