Daily Economic Roundup – April 8, 2010

What’s on the Economic Horizon
US Weekly Claims Could Top 400K Again
BOE to Maintain its Current Easing Programs
ECB Widely Expected to Keep Rates at 1.00%

United States
Risk aversion took over in yesterday’s trading wars, allowing the USD bull troops to advance. The dollar rallied against most other higher yielding majors while falling versus the yen. More…

Euro Zone

The unexpected revision on euro zone’s GDP gave the chance for the euro bears to shine yesterday. The EURUSD closed the day at 1.3344, more than 60 pips lower from its opening price during the Asian trading session. More…

United Kingdom

The pound received another pounding from the yen and the greenback yesterday. The Guppy (GBPJPY) fell and closed at 142.26 from 143.17. The Cable (GBPUSD) also slid to 1.5247 from 1.5279. More…

Japan

The yen dominated the FX market yesterday, banking a landslide win against ALL the other major currencies. Will the yen be able to extend its run? More…

Canada

Risk aversion caused the USDCAD to flee back above the 1.0000 handle to a high of 1.0044 during the US session. A couple of economic reports were released from Canada yesterday and their mixed results left the Loonie vulnerable against the US dollar. More…

Australia

After surging above the 0.9250 mark during the Asian session, the AUDUSD traded quietly within a 50-pip range for the rest of the day. The AUDJPY, on the other hand, erased some of its recent gains and fell back below the 87.00 handle. More…

New Zealand

The lack of economic data from New Zealand kept the Kiwi range bound in yesterday’s trading session. The NZDUSD closed out the US trading session at 0.7077, barely changed from its Asian session opening price of 0.7067. More…

Switzerland

The USDCHF rose once again, as the combination of poor Swiss data and risk aversion pushed the pair higher. The pair continued its upward trek, closing yesterday at 1.0733. More…