Daily Economic Roundup – April 7, 2010

What’s on the Economic Horizon

Swiss Retail Sales to Show a 3.8% Increase
Fed Big Boss Ben to Speak Today
German Factory Orders on Deck
Canadian Ivey PMI To Buck Recent Trend?
UK Services PMI Could Dip to 58.1 in March

United States

For the second day in a row, the USD found itself trading mixed against other major currencies. The currency gained versus the EUR and CHF but weakened against the JPY and commodity-based currencies like the AUD, CAD and NZD. More…

Euro zone

The euro woke up on the wrong side of the bed again yesterday as it slid against the greenback and the yen. The EURUSD fell to and settled at 1.3406 from 1.3480. The EURJPY also declined to 125.63 from 127.14. More…

United Kingdom

V for victory! The pound successfully pulled up from its sharp dive against the greenback and etched a nice V-formation on the GBPUSD 1-hour chart. The question is: Would the pound be able to sustain its rally or would it resume its dive later on? More…

Japan

The yen managed to squeeze some gains off the greenback, euro, and pound ahead of the release of the BOJ’s monetary policy statement. Strong economic figures also provided a boost for the yen, which closed at 93.89 against the greenback. More…

Canada

Parity at last! For the first time since mid 2008, the USDCAD hit the magical 1.00 mark! My question is though, is parity here to stay? Or will mad buyers start to jump back in? More…

Australia

Booyeah! Aussie bulls went on a buying spree yesterday, after the RBA decided to hike rates to 4.25%. After touching as low as 0.9165 zoomed all the way up to close at 0.9283. Talk about an Aussie-some performance!!! More…

New Zealand

The Kiwi made a strong rally during the start of the US session to overcome huge deficit against the USD. The NZDUSD rose to and closed at 0.7067 from 0.7029 after touching a low of 0.6965. More…

Switzerland

The Swissy turned out to be one of the biggest losers in yesterday’s trading session. The USCHF ended the US trading session 1.0691, 70 pips higher from its opening price during the Asian session. More…

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