Daily Economic Roundup – March 2, 2010

What’s on the Economic Horizon

Euro Zone CPI Flash Estimate Due Today
BOC Expected to Keep Rates Unchanged at 0.25%
RBA to Raise the Benchmark Interest Rate to 4.00%
Swiss 4Q GDP to Print 0.4% Expansion

United States

Despite the strength of the US capitals market, the USD started the month of March on a bright note. At the end of the day, the USD closed the session mixed versus the other major currencies. More…

Euro zone

Risk aversion came back into play, pushing the euro lower against the greenback and the yen yesterday. Although most euro zone reports came in better than expected, the EURUSD fell to a low of 1.3461 during the US session. More…

United Kingdom

Ouch… Ouch… Ouch… The pound took one on the chin yesterday, as the GBPUSD pair dropped almost 400 pips in intraday trading to recover… slightly. Cable ended trading at 1.4992, still down 200 pips from its opening price. More…

Japan

While the USDJPY kept within range, the yen was able to post some nice gains versus its European counterparts. The EURJPY and GBPJPY both closed lower at 120.78 and 133.55 respectively. More…

Canada

Unlike the major European currencies, the Loonie was actually able to post some significant gains and kick off the week on a firm note yesterday. The USDCAD found itself at 1.0414 by the end of the US trading session, almost 150 pips lower from its Asian session opening price. More…

Australia

The Aussie started out the week on a slow note yesterday, bouncing off its intraday highs and lows. The Aussie ended the US session a couple of pips above the 0.9000 handle, just 50 pips higher form its week open price. More…

New Zealand

The Kiwi was able to maintain its steady footing yesterday as it ended virtually unchanged against the greenback. Although price action was a bit chaotic around the time of the release of US economic reports, the NZDUSD found support at the 0.6940 area and surged back to the 0.7000 handle. More…

Switzerland

The start of the month did not look good at all for the Swissy as it slipped again against the greenback. The USDCHF settled and closed at 1.0795 after reaching a high of 1.0872 from 1.0718. More…