Daily Economic Roundup – March 1, 2010

What’s on the Economic Horizon

US ISM Manufacturing PMI on Tap
UK’s Manufacturing PMI to Fall to 56.3
EZ Unemployment Seen to Rise Slightly
Canada’s December GDP on Deck Today

United States

Not so fast! After almost an entire week’s worth of safe-haven rallies, risk appetite came back in stride last Friday. With this week’s economic schedule filled to the brim with high impact reports, was last Friday’s move merely a pullback or would the greenback continue to lose? More…

Euro zone

The euro posted some gains against the dollar in Friday’s trading action, as it appears that some profit taking took place. While the EURUSD pair closed higher at 1.3616, the euro has failed to post any gains versus the dollar in 7 weeks. What will we see this week? More…

Japan

After the yen’s convincing rally throughout last week, the currency decided to take a break and ease up on Friday. The yen lost a bit of ground against the euro but was able to post some minor gains versus the dollar and the pound. More…

United Kingdom

Thanks to improved risk appetite, the Cable was able to hold on for dear life last Friday. It ended the week at 1.5250, just 20 pips lower from its opening price during the Asian session. Still, all in all, the Cable fell about 200 pips from its opening price last week. More…

Canada

The loonie got a boost last Friday to end positively against the greenback. The USDCAD fell and settled at 1.0525 from 1.0593. More…

Australia

The aussie was able to close the month of February on a positive note against the greenback and yen. The AUDJPY rose back up to 79.20 after hitting a low of 78.19 during the last week of Feb. Similarly, the AUDUSD rallied to 0.8963 after reaching a low of 0.8801 during the same period. More…

New Zealand

The Kiwi recovered from its losses earlier in the week to post some nice gains against the dollar on Friday. The NZDUSD pair closed the week at 0.6983. More…

Switzerland

The Swissy ended its streak of losses against the greenback last Friday as the USDCHF reached a low of 1.0695. Was this a show of risk appetite or did the safe-haven rally simply take a quick break? More…