Daily Economic Roundup – February 18, 2010

What’s on the Economic Horizon

US PPI and Weekly Unemployment Claims Due Later
Italy’s Debt Poses Threat to Euro Zone
UK Industrial Orders Seen To Pick Up Slightly
BOJ Announcement To Clock In Any Second Now
Consumer Prices in Canada to Have Risen 0.3%
RBA Governor Glenn Stevens to Talk Today

United States

The US capital markets managed to advance for a second straight session despite the rally in the US dollar index. The dollar index booked a 1.0% gain over a basket of other currencies, overshadowing its 0.9% loss during the previous day. More…

Euro Zone

Another one bites the dust! As debt concerns, this time from Italy, resurfaced in the euro zone, the EURUSD plummeted by almost 200 pips from a high of 1.3790 to the 1.3600 area. More…

United Kingdom

Tough day at the office for the pound, as it lost most of the gains it had made the previous day. The GBPUSD pair touched as high as 1.5815, before dropping all the way down to 1.5682. Can the pound recover from this disaster? More…

Japan

Yowza! The yen took quite a beating against the dollar yesterday, as the dollar made a massive rally across the board. The USDJPY soared to 3 week highs just above the 91.00 price handle. More…

Canada

After six days of winning, the Loonie finally took a breather and gave up some of its gains in yesterday’s trading session. The USDCAD ended the US trading session at 1.0464, 30 pips higher from its opening price during the Asian session. More…

Australia

No thanks to the hawkish FOMC meeting minutes and better-than-expected data from the US, the AUDUSD tumbled down a couple pips in yesterday’s trading session. The AUDUSD found itself sinking under the 0.9000 handle by the end of the US session. More…

New Zealand

The lack of economic reports from New Zealand left the Kiwi vulnerable to US dollar strength. As a result, the NZDUSD was unable to surge past 0.7080 and tumbled to the 0.7030 area instead. More…

Switzerland

The Switzerland Swissys completely blew its huge lead and eventually turned over the game to the US Greenbacks. What a letdown! The USDCHF climbed from 1.0662 all the way up to close at 1.0780. More…