Daily Economic Roundup – April 13, 2010

What’s on the Economic Horizon

US Trade Deficit To Have WIdened Again in Feb
Feb UK Trade Deficit to Narrow
New Zealand Retail Sales on Deck Later

United States

After largely gapping down against most major currencies yesterday, the greenback was able to find some buyers as the day rolled along. Are the effects of the joint International Monetary Fund/European Union bailout package over the weekend finally fading? Or are bears simply revving up for another major dollar sell-off? More…

Euro zone

The euro opened the week on a very good note as the EURJPY gapped up by about seventy pips and the EURUSD by a hundred. Too bad it wasn’t able to sustain its momentum as it lost most of its gains at the end of the day. More…

United Kingdom

After taking a huge leap during the weekend, the pound slid back down against the greenback and the yen in yesterday’s trading. Weak economic data, along with the uncertainty surrounding next month’s elections, weighed on the pound. More…

Japan

The Japanese yen must be popping a bottle of sake by now since it successfully erased some of its losses against the Aussie, euro, and pound. But would it be able to stay afloat now that the BOJ is split between extending and pausing its lending program? More…

Canada

Quiet day in the Great White North, as USDCAD trading remained range bound, trading within a band of 80 pips. With more data coming out from North America today, could we see more volatile moves? More…

Australia

Rough and choppy waters caused the AUDUSD to sink yesterday. The pair closed the day at 0.9283, a dip of about 100 pips from its opening price, completely erasing the gap it had made over the weekend. More…

New Zealand

Like most of the anti-dollars, the Kiwi opened strong yesterday. The lack of positive catalyst, however, caused it sink at the end of yesterday’s session. The NZDUSD settled at 0.7120 from 0.7190. More…

Switzerland

After gapping down more than 70 pips over the weekend, the USDCHF found itself stuck within an 80 pip-range in yesterday’s trading session. The pair ended the day at 1.0595, hardly changed from its week open price of 1.0588. More…