Daily Economic Roundup – February 10, 2010

What’s on the Economic Horizon
Canada’s Dec Trade Deficit on Tap
French Industrial Production to Have Risen 0.6%
UK Inflation Report Due Later

United States

Risk appetite was strong yesterday, causing the dollar to fall against most other majors on news coming out from the EU summit. The EURUSD rose over 100 pips to close at 1.3779. Now, the question is, is this really a shift in risk sentiment? More…

Euro Zone

Thanks to the rumor of a €20 billion bailout plan for Greece, the euro was able to pocket some nice gains over the dollar in yesterday’s trading session. The EURUSD closed the US session strongly at 1.3795, roughly 150 pips higher from its Asian session open price. More…

United Kingdom

The pound finally got a breather yesterday as it was able to close positively against the dollar and yen after declining for several days. The cable (GBPUSD) closed at 1.5705 from 1.5600. The guppy (GBPJPY), similarly, settled at 140.74 from 139.30. More…

Japan

Like its big cousin in the West, the dollar, the also yen called in and slacked versus the other majors in yesterday’s trading. The broad base rally in the US capitals markets led investors to leave the safety of the yen and dollar. More…

Canada

Even though Canada didn’t release any economic reports yesterday, the CAD was able to make headway against the greenback as investors’ risk appetite improved. After lingering above the 1.0750 level for the past few days, the USDCAD dipped to a low of 1.0646 recently. More…

Australia

Surf’s up, dude! A fresh wave of risk appetite, spurred by news of an aid plan for Greece’s debt, hit the markets and allowed most majors to recover some of their losses against the greenback. As a result, the AUDUSD edged close to the 0.8800 handle during the US session. More…

New Zealand

Improved risk sentiment from the bailout plan for Greece gave the Kiwi bulls a slight boost in yesterday’s trading session. After jumping in and out the 0.6900 handle, the Kiwi was finally able to breakout and finish off the US trading session 0.6963. More…

Switzerland

The Swissy rode the wave of optimism yesterday to finish higher against the dollar. The USDCHF pair closed at 1.0652 as risk appetite was the name of the game. More…