Daily Economic Roundup – April 28, 2010

What’s on the Economic Horizon

FOMC Expected To Keep Rates at 2.50%
German CPI to Post 0.1% Uptick
RBNZ Rate Decision on Today’s Docket

United States

Jackpot! The dollar bulls were partying like rock stars yesterday as the greenback staged a huge rally across the board with the exception of the yen. A massive wave of risk aversion in the financial markets sent the dollar soaring by about 200 pips against the pound and euro. More…

Euro zone

Drat! Strong economic figures weren’t able unable to keep the euro afloat amidst fresh concerns in the Greek bailout drama. Yep, it looks like it ain’t over just yet! More…

United Kingdom

Good grief! It looks like politics is dominating the news in the UK, as the results of some recent polls suggested that the UK could indeed be heading towards a hung parliament. And what effect did this have on the pound? Well, the GBPUSD pair dropped over 200 pips from its opening price! More…

Japan

Skadoosh! The yen benefited from a sudden rush of risk aversion, as investors unwound their positions in higher yielding assets. The CADJPY, EURJPY and GBPJPY all fell by over two hundred pips! More…

Canada

Ouch. In just one day, the CAD gave up all of the gains it had over the USD this April. The USDCAD ended the US trading session at 1.0177, almost 200 pips higher! Hah, looks like the CAD won’t be ending this month with a bang. More…

Australia

Surprise, surprise! The Aussie found itself sinking to new monthly lows against the greenback when risk aversion became the dominant market theme yesterday. The AUDUSD closed the US trading session at 0.9156, more than 100 pips from its Asian session opening price. More…

New Zealand

Risk aversion clipped the Kiwi’s wings yesterday, causing the NZDUSD to drop by more than a hundred pips, from the 0.7210 area to the 0.7100 handle, in just a couple of hours. Ouch! More…

Switzerland

Ouch! A wave of risk aversion sent the Swissy back on the sidelines against the greenback yesterday. The USDCHF jumped to 1.0875 from 1.0739. After yesterday’s nasty slide, will the Swissy be able to rebound? More…