Daily Economic Roundup – February 17, 2010

What’s on the Economic Horizon

FOMC Minutes Due Today
UK’s Claimant Count Change on Deck Later

United States

Risk appetite came back in full swing yesterday, forcing the safe-haven greenback to bow down to the other majors. Strong economic data from the US encouraged investors to take on more risk and pursue higher-yielding assets. More…

Euro Zone

Despite some mixed data from the euro zone, the euro propped up yesterday, as risk appetite came back into play during the US session. The EURUSD soared high, to close at 1.3768, erasing more than half of its losses from last week. More…

Japan

The strong wave of risk appetite blew the yen out of the water yesterday, giving the chance for currency traders to let go of the yen and buy up its western counterparts like the euro, the pound and the US dollar. More…

United Kingdom

Thanks to improved risk appetite yesterday, the Cable was given a chance to gain a significant amount of ground in yesterday’s trading session. The Cable found itself at 1.5791 by the end of the US session, up more than 100 pips from its Asian open price. More…

Canada

Crude oil soared by 3.9% in yesterday’s trading to settle at $77.01 per barrel. This move helped launch the US equities markets to its best single day performance this year. The spike in oil prices also benefited the Loonie. The USDCAD fell and closed at 1.0436 from 1.0491. More…

Australia

Technically speaking, things are looking up for the Aussie right now. For one, the AUDUSD just broke out from an inverse head and shoulder formation to close at 0.9019 from 0.8889. Similarly, the AUDJPY rose to and settled at 81.31 from 79.98. More…

New Zealand

Woooo! Bullish Kiwi surfers rode a wave of risk appetite yesterday to bring the NZDUSD to a new two week high. The pair finished the day at 0.7070 – will this bullish run continue today? More…

Switzerland

Risk hungry investors gobbled up the Swiss chocolate, errr, Swiss franc yesterday, causing the USDCHF to fall to the 1.0660 area. Upbeat economic figures from the US spurred traders to dump the safe-havens in favor of higher-yielding currencies. More…