Daily Economic Roundup – February 16, 2010

What’s on the Economic Horizon
US TIC Long-term Purchases Due Tonight
Canada’s Manufacturing Sales to Post 2.1% Rise
UK’s Y/Y CPI Seen At 3.6% in January

United States

With US traders and banks on a holiday due to President’s day, liquidity was low and trading was pretty quiet. The EURUSD traded within a range of a measly 60 pips, while similar movement was seen in other pairs. More

Euro Zone

What a snoozer yesterday was! The most traded and liquid currency pair of all, the EURUSD, failed to make any significant moves, as it just bounced around a tight 50-pip range. It closed the US session at 1.3600, just a mere eight pips lower from its week open price. More…

United Kingdom

The pound just traded within a tight range against the dollar and yen yesterday due to a bank holiday in the UK and the US. The cable (GBPUSD) closed slightly lower at 1.5660 from 1.5675. The guppy (GBPJPY) also edge lower to 140.91 from 141.34. More…

Japan

The yen was a snoozer yesterday as it just traded flat versus the other majors given the lack of economic flows in the major economies. Volatility, however, is expected to pick up today with the release of the UK’s inflation figures and Germany’s Zew economic surveys. More…

Canada

Despite the relatively slow trading day, the loonie managed to take advantage of the US traders’ absence and make some headway against the greenback. After a brief period of consolidation, the USDCAD slipped below the 1.5000 mark even though Canada didn’t release any economic reports. More…

Australia

Yawn… Yesterday was a slow trading day for the Aussie since Australia didn’t release any economic reports and most US traders were off on a President’s Day holiday. The AUDUSD managed to keep its head above the 0.8850 level as it edges closer to the 0.8900 handle. More…

New Zealand

Despite weak data, the Kiwi was able to climb up a couple of pips early today. The Kiwi is currently sitting just a few pips below 0.7000, slowly making its way to the previous week’s high at 0.7022. More…

Switzerland

It seemed like everyone was off skiing at the Swiss Alps yesterday, as we barely saw any movement in the markets. The USDCHF basically didn’t move, closing just 5 pips higher after trading withing an area of just 50 pips. More…