Daily Economic Roundup – February 12, 2010

What’s on the Economic Horizon

US Retail Sales on Deck Today
Eurozone: GDP Day

United States

The US dollar traded mixed yesterday as it gained over the euro and the swissy but lost vis-à-vis the other majors. In the US, the late slide in the dollar index supported the US capitals markets’ push. The broader S&P 500 was able to log in 0.97% gain which brought back some risk taking at least in yesterday’s session. More…

Euro Zone

After struggling to knock out the greenback in yesterday’s match, the euro suffered a painful blow when EU officials announced that no direct aid will be given to remedy Greece’s debt problems. The EURUSD crashed by more than 100 pips a few hours after the announcement while the EURJPY was unable to hold on to the 124.00 handle. More…

United Kingdom

Up and down day for the pound, as it stuck within a range. Luckily, its opening price was near its lows for the day and the GBPUSD pair closed at 1.5696, allowing it to erase much of its losses from the previous day. More…

Japan

The yen bulls came out in force, pushing the yen forward against the euro when news that no concrete plans for a Greek bailout plans emerged in the EU summit. The EURJPY dropped from a high of 124.16 all the way down to 122.05 before settling at 122.78. More…

Canada

Despite the fresh wave of risk aversion, the Loonie was able to paddle to victory yesterday. Greece’s debt woes, the usual proponent of risk aversion lately, could be far from over now that EU officials have decided not to dole out direct aid to the ailing nation. More…

Australia

Thanks to strong results on Australia’s employment situation report, the Aussie managed to cover a significant amount of ground yesterday. The Aussie closed the US session at 0.8902, almost 150 pips from its Asian session opening price. More…

New Zealand

The wave of risk aversion that came from Greece debt problems failed topple the New Zealand dollar yesterday. The NZDUSD found itself at 0.7014 by the end of the US trading session, covering a decent amount of ground from its Asian session price of 0.6932. More…

Switzerland

The Swissy, alongside the euro, were the two currencies that weakened against the dollar in yesterday’s trading. The USDCHF went to as high as 1.0784 from 1.0684 before settling at 1.0711. More…