Daily Economic Roundup – February 10, 2011

What’s on the Economic Horizon
U.S. Unemployment Claims to Fall to 411K

Bank of England Widely Expected to Keep Rates Unchanged

United States

The dollar’s scorecard in yesterday’s trading was as mixed as a bag of nuts! It lost 102 pips to the euro when EUR/USD closed at 1.3474 but gained 34 pips from the Aussie at 1.0117. USD/JPY, on the other hand, remained almost unchanged at 82.37. More…

Euro zone

Thanks to the easing tensions in Egypt, the euro was able to recover more of its losses yesterday. After it had opened the day at 1.3632, EUR/USD rose nicely throughout the day to close 102 pips higher at 1.3734. More…

United Kingdom

Ain’t no trade balance data gonna hold the pound down, brotha! GBP/USD was able to power through a disappointing trade balance report to finish just above the 1.6100 handle, recording a 32-pip gain for the day. More…

Japan

IGNORED! Yen traders didn’t seem to pay any mind to the couple of green figures that Japan released early in the day. In spite of positive economic data, USD/JPY finished hardly unchanged at 82.37. More…

Canada

Ever seen a tuna sashimi served on a plate? Well, that’s exactly how USD/CAD’s price action looked – chopped up! Due to the absence of economic data, the pair was unable to find clear direction all day and just bounced around its session highs and lows. At the end of the trading day, USD/CAD found itself only 8 pips lower from its opening price at .9939. More…

Australia

After falling 34 pips during yesterday’s trading to 1.0117 despite positive data, I’ve got a feeling (whoo-hoo!) that today’s gonna be a good day for the Aussie! More…

New Zealand

Cue the sad trombone, ’cause the Kiwi’s feelin’ down! Disheartening words from New Zealand’s finance minister dampened the Kiwi’s spirit as NZD/USD fell 25 pips and closed at .7721. More…

Switzerland

Without any economic yodels from Switzerland, the Swissy continued to tank against the euro, losing 26 pips in yesterday’s trading. Good thing it was able to end the day with a win from the dollar as USD/CHF closed at .9578 after hitting a high of .9662. More…