Daily Economic Roundup – February 26, 2010

What’s on the Economic Horizon
US GDP to Stay Hot?
Canada’s Current Account Balance Due
Euro Zone CPI Reports on the Cupboard
UK GDP to Be Revised from 0.1% to 0.2%

United States

Poor data early on in the US session sparked a mini run of risk aversion, as durable goods orders and unemployment claims came in worse than expected. More…

Euro Zone

The EURUSD went into see-saw mode yesterday, losing quite a bit of ground during the Asian session but eventually fought back, ending the US session right where it started. More…

United Kingdom

The British pound got hammered big time yesterday. It was as if it got hit by a runaway mack truck or something. The guppy (GBPJPY) slid and closed at 136.06 from 138.87. Similarly, the cable (GBPUSD) fell and settled at 1.5270 from 1.5399. More…

Japan

It’s as if Japan had won a world war with its broad-based strike against all the other major currency players yesterday. The yen hit it big when the news surrounding Greece’s possible credit downgrade surfaced once again. From that point on, it was the yen all the way. More…

Canada

The lack of economic reports from Canada left the loonie utterly helpless against yesterday’s greenback strength. Bleak US economic reports fueled a run of risk aversion, pushing the USDCAD near the 1.0700 mark. More…

Australia

Despite the rebound in Australian private capital expenditures for the fourth quarter, the Aussie fell victim to risk aversion. After lingering in the 0.8950 level for a bit, the AUDUSD dropped to the 0.8800 area during the US session. More…

New Zealand

Just like the other majors, the Kiwi went on a roller coaster ride yesterday. It just bounced around its Asian session highs and lows, but eventually ended the day flat. It found itself at 0.6918 at the end of the US trading session, just 15 pips lower from its opening price during the Asian session. More…

Switzerland

The Swissy was able to over come some USD strength yesterday to pull ahead late in the US session. The USDCHF closed slightly lower at 1.0797. More…