Daily Economic Roundup – March 17, 2010

What’s on the Economic Horizon

US Producer Prices to Dip by 0.2%
The BOJ Widely Expected to Keep Rates at 0.10%
Canadian Wholesale Sales to Print a 0.6% Gain

United States

Although the Fed struck their usual cautious tone, the FOMC statement still caused quite a ruckus in the markets. The greenback sold off like pancakes at a state fair yesterday as the Fed retained the phrase “extended period” when discussing how long they would keep rates low. More…

Euro zone

It was turn back the clock Tuesday for the euro, as it reversed most of its losses from the previous day. The EURUSD closed 90 pips higher to end the day at 1.3766. Will the pair finally break past the 1.3800 handle? More…

Japan

The yen was unable to keep up with the Western currencies yesterday. The currency lost its appeal to currency traders and got sold-off against the dollar, the euro and the pound. More…

United Kingdom

The Cable finally found itself swimming above the 1.5200 handle yesterday. It started off the Asian trading session pretty slow, consolidating in a tight 40 pip range. However, once the European and US sessions went underway, the pair just blew up and staged a magnificent rally to close the day at 1.5250, almost 200 pips higher from its opening price. More…

Canada

The Loonie delivered the greenback another beating all throughout yesterday. The USDCAD broke below the 1.0200 significant support and is now trading at 1.041. Will the Loonie finally embrace parity with the dollar? More…

Australia

The Aussie was able to regain all of its losses against the greenback yesterday. The AUDUSD rebounded to close at 0.9185 from 0.9147. More…

New Zealand

The Kiwi benefitted from the wave of risk appetite the occurred all throughout the European and US sessions. The NZDUSD closed at a one month high and is currently trading above the 0.7100 handle. Will the Kiwi bulls continue to surf upstream? More…

Switzerland

The Swiss franc seemed to be on a sugar high yesterday as it bolted faster than the greenback, pushing the USDCHF to a low of 1.0539 during the US session. Too much Swiss chocolate, perhaps? More…