Daily Economic Roundup – February 2, 2010

What’s on the Economic Horizon

US Pending Home Sales to Rise 0.4%

German Retail Sales to Rebound in December
Halifax HPI Due Any Day Now
RBA… Another Rate Hike?

United States

After several days of prevailing over the other major currencies, the greenback finally took a breather to close at a distant second yesterday. The rebound in the US markets led investors to buy higher yielding currencies, leaving the dollar on the sidelines. More…

Euro Zone

Finally! The EUR ended its losing streak against the USD yesterday as it climbed to a high of 1.3940 during the US session. Euro zone’s final manufacturing PMI enjoyed an upward revision, providing support for the EUR. More…

United Kingdom

Sweet marmalade! After trading as low as 1.5851, the GBPUSD pair shot back up to close the day at 1.5961 as risk appetite was strong in yesterdays trading session. Could this be a sign that the cable is on the comeback trail after last week’s losses? More…

Japan

The yen took a hit yesterday as risk appetite was the name of the game in yesterdays trading sessions. Yen crosses all rose, with the GBPJPY cross rising over 100 pips. More…

Canada

Thanks to the rebound in commodity prices, specifically the uptick in the price of crude oil, the Loonie was able to find some buying support in yesterday’s trading session. After opening the week at 1.0704, the Loonie found itself at 1.0609 by the end of the US trading session. More…

Australia

The Aussie started the week on a good note yesterday, retracing all of its losses from Friday’s trading session. From its week open price of 0.8800, the Aussie was able to rise up and close the US trading session at 0.8914. More…

New Zealand

The Kiwi soared higher yesterday despite the lack of high-impact reports from New Zealand. The improvement in risk appetite and the reported uptick in commodity prices pushed the Kiwi and its com-doll buddies higher. More…

Switzerland

The Swissy snapped its 5-day losing streak against the dollar in yesterday’s trading. The USDCHF fell and settled at 1.0558 from 1.0609. More…