Daily Economic Roundup – February 25, 2010

What’s on the Economic Horizon

Fed Head Big Ben Bernanke To Speak Again Today
German Firms Seen to Slash 18,000 Jobs in Feb
BOE Gov King Due to Testify

United States

Wednesday started off with the dollar moving lower as a result of some profit taking from its stellar rally from the day before. Once US economic data was released, however, risk aversion set in, helping the dollar erase its losses and end the US session hardly changed against most major currencies. More…

Euro zone

Trading of the euro became a little volatile during the time the FOMC released its statement. There, the FOMC said that it will keep its current policies as is for an extended period given the subdued outlook in the US’s economic growth and inflation. Still, the EURUSD was able to close higher at 1.3534 from 1.3501. More…

United Kingdom

The pound zigzagged its way across the charts and failed to rebound from its recent slide against the greenback and yen. BOE policymaker Adam Posen’s comments suggesting further quantitative easing for the UK reinforced the bearish bias for the pound. More…

Japan

After seeing an improvement in Japanese exports earlier on, the yen flexed its muscles and strengthened against the greenback yesterday. Yen crosses, however, were little changed during the day. More…

Canada

The Loonie recovered some of its losses yesterday, as trading wasn’t as wild as the day before. The USDCAD pair traded within its range and closed lower at 1.0511. More…

Australia

The Aussie stayed afloat in yesterday’s trading session to push up higher against the dollar. The AUDUSD pair closed at 0.8933. More…

New Zealand

After falling by a hundred pips versus the dollar last Tuesday, the Kiwi was able to stage a little rally in yesterday’s trading. The NZDUSD rose to 0.6934 from 0.6911. More…

Switzerland

The Swissy’s price action yesterday was pretty wacky yesterday, climbing initially during the Asian and European session but completely reversing its gains once the US session went underway. The USDCHF ended the day at 1.0810, a mere 40 pips lower. More…