Daily Economic Roundup – February 11, 2010

What’s on the Economic Horizon

US Initial Jobless Claims Seen at 460,000
EU Economic Summit Today
New Zealand Retail Sales to Post a 0.7% Uptick
Swiss January CPI to Dip by 0.4%

United States

Big Ben took the greenback for a wild ride when he talked about exit strategies and the Fed’s monetary outlook during his speech yesterday. Most high-yielding currencies struggled to hold on to their recent gains but the pound failed to do so. More…

Euro Zone

The euro gave back some of its winnings from the day before, as the dollar bounced back on some comments made by the Fed yesterday. The EURUSD closed lower at 1.3730 after trading as low as 1.3677. More…

Japan

After two days of losing, the yen was able to secure some gains in yesterday’s trading session. It found itself on the winning side of the stick by the end of the US trading session against the euro and the pound. Still, the move looks like it will be short-lived, as the yen is starting to lose quite a bit of ground… More…

United Kingdom

The Cable went for a wild ride yesterday. It gained some decent ground early on but eventually gave it all up when the the Bank of England’s inflation hearings went underway. The Cable closed the US session at 1.5583, more than 100 pips from its opening price during the Asian session. More…

Canada

The Canadian Loonies scored another close win against the US Greenbacks in yesterday’s currency tourney. The USDCAD fell and settled at 1.0630 from 1.0679. More…

Australia

The Aussie closed mixed in yesterday’s trading due to the lack of economic flows in Australia. The AUDUSD incurred a modest lost and fell at 0.8754 from 0.8778. The AUDJPY, on the other hand, rose slightly to 78.73 from 78.67. More…

New Zealand

The Kiwi remained steady yesterday as trading waves were weak. The NZDUSD stayed within a range of about 75 pips, with the pair closing lower at 0.6932 as a result of some USD strength midway through the US session. More…

Switzerland

The USDCHF pair rallied then reversed yesterday when Fed Chairman Ben Bernanke’s speech caused a ruckus in the markets. The pair climbed from a low of 1.0618 and topped out at a high of 1.0722 during the US session. More…