Daily Economic Roundup – April 19, 2010

What’s on the Economic Horizon

Dip in Demand for CAD Securities?
Japan’s Tertiary Industry to Slow Down in March?
New Zealand’s 1Q CPI Seen at 0.6%

United States

Due to the wave of risk aversion that hit the market last Friday, the dollar was able to rise against most major currencies. The US dollar index, which tracks the performance of the greenback versus a fixed basket of currencies, closed out at 81.23, more than one percent higher from its open. More…

Euro zone

The euro bulls took another nasty hit when both the EURUSD and EURJPY lost all of its gains last week and then some last Friday. The EURUSD fell to and settled at 1.3510 from 1.3581. The EURJPY also dipped to 124.45 from 126.37. More…

United Kingdom

Another huge gap to start the week? Unlike last week, when the pound enjoyed an upward gap during the weekend, pound pairs saw a downward gap this time around. More…

Japan

Thanks to risk aversion, the Japanese yen enjoyed quite a nice run before last week came to a close. News of the Goldman Sachs fraud pushed the USDJPY to the 92.00 area during Friday’s US trading session. More…

Canada

Ouch! The Canadian dollar hit a risk aversion trip wire, falling face first versus the dollar. The USDCAD pair closed exactly 100 pips higher for the day, as traders became more risk averse when news about Goldman Sachs broke out. More…

Australia

Shazam! The Aussie got hit with some magic, as risk aversion brought higher yielding currencies to their knees. This was best seen in the AUDJPY, which dropped by over 150 pips from its opening price! More…

New Zealand

The Kiwi, for a second day in a row, lost its touch during last Friday’s session. The NZDUSD fell to and closed at 0.7088 from from 0.7114. The question now is: will the pair be able to stand on its feet and win some this week? More…

Switzerland

For the second day in a row, the Swissy found itself giving up some ground against the US dollar last Friday. Just like other major currencies, the main reason the Swissy took a dive was from the wave of risk aversion that came from the Goldman Sachs debacle. All in all, however, the USDCHF ended the week hardly changed, rising a mere seven pips from its opening price that week. More…

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