Daily Economic Roundup – April 27, 2010

What’s on the Economic Horizon

CB Consumer Confidence Index Likely Rose to 53.6
Gfk German Consumer Confidence Seen to Rise
UK CBI Distributive Trades Survey Expected to Improve

United States

With an empty economic calendar, the greenback was unable to pick a definite direction yesterday. Uncertainties surrounding the Greek bailout, the Goldman Sachs investigation, and the upcoming FOMC report allowed the greenback to gain against most major currencies. More…

Euro zone

Ay caramba! It looks as if Greece’s debt problems are still weighing heavily in the markets, which is preventing the euro from making any significant gains. EURUSD trading stayed within a range of just over 100 pips. More…

Japan

The absence of any high-profile economic event yesterday caused the yen to trade mixed against other major currencies yesterday. The yen was able to gain slightly versus the greenback, but loss out against the pound and the euro. More…

United Kingdom

Despite the lack of any new economic developments, the GBPUSD was able to slowly creep up above the 1.5400 handle yesterday. The pair ended the US trading session at 1.5457, around 80 pips higher from its opening price during the Asian trading session. More…

Canada

Trading of the Loonie was thin yesterday due to the absence of major economic flows from Canada and the other major economies. The USDCAD tiptoed around its parity line and eventually closed slightly higher at 1.0013 from 0.9998. More…

Australia

Despite trading flat yesterday, the Aussie still managed to book some marginal gains over the greenback and the yen. The AUDUSD rose to and closed at 0.9271 from 0.9259. Similarly, the AUDJPY also climbed to 87.15 from 87.04. More…

New Zealand

Despite the lack of any news, the Kiwi posted some good gains versus the dollar, with the NZDUSD rising over 50 pips in yesterdays trading. Could traders be pricing in hawkish comments by the RBNZ in tomorrow’s interest rate statement? More…

Switzerland

The Swiss franc edged lower against the greenback yesterday, causing the USDCHF to hit a high of 1.0788. No economic reports were released from both the US and Switzerland yesterday. More…