Daily Economic Roundup – March 16, 2010

What’s on the Economic Horizon
No Longer an “Extended Period” of Low Rates for the Fed?
Canada’s Manufacturing Sales to Rise 0.7%
EZ: Zew Survey and CPI Reports on the Docket

United States

Talk about starting off the week on a high note! After dropping across the board last Friday, the dollar made a nice comeback against most majors in yesterday’s trading sessions. What could have caused this move? More…

Euro Zone

The euro finally ended its three-day winning streak against the dollar yesterday. The EURUSD found itself drowning way below the 1.3700 handle by the end of the day, more than 120 pips lower from its week open price. More…

United Kingdom

After hitting a fresh 2-week high last Friday versus the greenback, the Cable (GBPUSD) seemed to have hit a wall at the 1.5200 handle. The pair fell by about 150 pips shortly after revisiting the mentioned level yesterday. The GBPUSD dropped to and closed at 1.5057 from 1.5176. More…

Japan

Yowza! It was a great day indeed for the Yen bulls yesterday as the JPY staged a broad-based rally against all the other majors. The question now is… Does the Yen have enough juice to extend its win to round 2 today? More…

Canada

Well, the loonie’s winning streak had to end sometime, didn’t it? After almost two weeks of gaining against the greenback, the loonie took a breather yesterday, causing the USDCAD to climb to a high of 1.0233. More…

Australia

The com-doll gang was single-handedly overpowered by the greenback in yesterday’s trading, causing the AUDUSD to crash to a low of 0.9096. Australia didn’t release any economic reports in the past 24 hours but let’s find out whether today’s data could provide support for the AUD. More…

New Zealand

The lack of economic news from New Zealand kept the Kiwi within a tight 60-pip range in yesterday’s trading session. From its week open price of 0.7031, the NZDUSD dipped as low as 0.6987, before eventually closing out the US trading session at 0.7022. More…

Switzerland

The USDCHF rose yesterday, as the dollar ruled yesterday’s forex fights. The pair closed slightly higher at 1.0619, marking a gain of 45 pips. More…