Daily Economic Roundup – February 9, 2010

What’s on the Economic Horizon

Westpac Consumer Sentiment report due tonight
UK Trade Balance On Tap

United States

The lack of hard-hitting economic data kept the dollar trading within tight ranges against other major currencies yesterday. The dollar was bought up early on during the Asian session but buying momentum faded once the European trading session went rolling along. More…

Euro zone

The euro lagged behind the dollar and yen yet again in yesterday’s trading race. The EURUSD closed at 1.3660 from 1.3701. Similarly, the EURJPY also slipped to 121.97 from 122.50. More…

United Kingdom

The pound’s GPS navigation system was probably out of wack yesterday, causing pound pairs to drive around aimlessly all day. Aside from that, the lack of economic catalysts on deck led to a relatively quiet day in the currency markets. More…

Japan

Movement of yen pairs was relatively calm yesterday as they took a break after their sharp dives last week. The absence of top-tier reports from the economic calendar made for a quiet day in the markets. More…

Canada

Poor Loonie! Despite some good economic data, the CAD was not able to make any headway against the dollar. Once again, the USDCAD trickled higher, closing out at 1.0746. More…

Australia

The Aussie dollar fell yesterday against the US dollar as commodities traded lower. The AUDUSD pair fell to 0.8646 after gapping up over the weekend. Will the AUD find any support later this week? More…

New Zealand

The Kiwi slid again vis-à-vis the dollar yesterday. The NZDUSD has been taking a hit since the second week of January. It looks like that it’s gonna head further down since it already broke below the 0.7000 support. More…

Switzerland

Thanks to better-than-expected results on economic data release, the Swissy was able to hold its ground against the dollar yesterday. The USDCHF closed the US trading session hardly changed at 1.0738, just 20 pips higher from its Asian session price. More…