Daily Economic Roundup – February 23, 2010

What’s on the Economic Horizon

German Ifo Business Climate Due Later
Inflation Hearings on the Docket in the UK
US Consumer Confidence to Drop in Feb

United States

In the absence of US economic reports, the greenback’s performance was “Hot ‘N Cold” yesterday as it weakened against the pound and yen but strengthened against the euro. Could it be that traders are still unsure where to take the greenback as they await the Fed Chairman’s testimony this week? More…

Euro zone

Pretty quiet day as US traders had a day off due to the banking holiday. The EURUSD traded slightly lower after gapping up over the weekend to close at 1.3600. More…

Japan

The yen received a lot of loving in yesterday’s trading session, gaining against the pound, the euro and the dollar. More…

United Kingdom

The Cable started out the week on slow note yesterday, just bouncing around a tight 50-pip range. The Cable found itself at 1.5480 by the end of the US trading session, a mere 20 pips higher from its Asian open price. More…

Canada

After opening on a positive note, the loonie eventually slipped against the dollar to end yesterday’s session at a loss. The USDCAD rose to 1.0425 from 1.0389. More…

Australia

Things looked promising for the aussie yesterday when it gapped up against the greenback to begin the Asian session. Trading, though, turned flat and the AUDUSD eventually lost its luster to close the session in red. More…

New Zealand

With barely any movement in yesterdays trading session, traders couldn’t catch any nice waves. The NZDUSD remain steady trading within a range of 13 pips. Yes, that’s right – THIRTEEN! More…

Switzerland

Trading was so choppy yesterday that it could slice Swiss cheese into smithereens! The USDCHF barely moved from its tight range from 1.0750 to 1.0790 since the lack of economic reports on deck drowned out the volatility from the markets. More…