Daily Economic Roundup – April 20, 2010

What’s on the Economic Horizon
Bernanke and Geithner to Talk about Lehman Brothers
German ZEW Economic Sentiment Survey to Show Improvement
UK March CPI Seen at 3.2%

United States

After all the excitement last Friday, yesterday’s trading matches provided more range like movement. This came as no surprise, as there were no major developments regarding the Goldman Sachs issue nor was there any major economic data released yesterday. More…

Euro Zone

The EURUSD was unable to find a clear direction in yesterday’s trading session. The pair fell early on during the Asian trading session, but it was able to recover all of its losses once the US trading session went underway. The EURUSD ended the hardly changed at 1.3486. More…

United Kingdom

After dipping sharply during the Asian and European sessions, the pound made a V-turn to recover most of its losses against the dollar and the yen. The GBPUSD rose to and closed at 1.5339 after reaching a low of 1.5192 from 1.5363. Similarly, the GBPJPY reached and settled at 141.72 after touching a low of 139.39 from 140.66. More…

Japan

The yen choked late in yesterday’s session and lost all of its gains and then some over all the other major currencies. The yen bulls were caught off guard by a new development regarding Goldman Sachs that forced them to hand over their lead. More…

Canada

The loonie continued to edge lower against the greenback yesterday, pushing the USDCAD to a high of 1.0216. Weak economic data from Canada, risk aversion, and uncertainty ahead of the BOC rate decision joined forces in keeping the loonie weak. More…

Australia

After gapping lower over the weekend, the Aussie continued to struggle against the greenback and the yen in yesterday’s trading. The absence of risk appetite, along with China’s decision to implement tightening policies, dragged the Aussie down. More…

New Zealand

After gapping down lower over the weekend, the Kiwi was able to post some minor gains versus the greenback in yesterday’s trading session. The NZDUSD ended the US trading session 0.7098, 15 pips higher from its week open price. More…

Switzerland

Tight trading yesterday, as traders took a breather after all the big moves last Friday. The USDCHF stayed within a range of just 80 pips, closing 7 pips lower. More…