Daily Economic Roundup – March 23, 2010

What’s on the Economic Horizon

UK’s CPI Expected to Ease to 3.1%
US Existing Home Sales Due Today
Japan’s Trade Balance to Tick Down to ¥41 Billion

United States

The greenback seemed to have lost its mojo yesterday as it ended weaker against the other major currencies. Was this spurred by improved risk appetite or are traders wary about the effects of the newly-approved health care bill on the US dollar? More…

Euro zone

It looked like the EUR was headed for another day of losses, before it go it’s second win late in the US session to actually come out ahead. After trading as low as 1.3461, the EURUSD closed the day at 1.3559, a recovery of almost 100 pips!! More…

Japan

Supported by a wave of risk aversion, the yen found itself winning out against other major currencies early yesterday. The rally proved to be short lived though, as the yen erased most of its gains once the US afternoon trading session went underway. More…

United Kingdom

The GBPUSD turned out to be one of the stronger currencies in yesterdays trading session. It closed the US session just a few pips above the 1.5100 handle, around 100 pips from its Asian session open price. More…

Canada

The Loonie extended its losing streak to three against the dollar yesterday. The USDCAD rose to a high of 1.0244 from 1.0173 and then settled at 1.0190. Will the Loonie extend its losing stretch to four or will it resume its stellar run during the past couple of weeks? More…

Australia

The Aussie was able to rally late during yesterday’s game to pare off its losses and even edge the greenback. After hitting a low of 0.9085, the AUDUSD rebounded to close higher at 0.9183 from 0.9155. More…

New Zealand

The NZDUSD took a dive into the deep end and had some trouble coming back up for air. After plunging to as low as 0.7001, the NZDUSD swam back up, enabling it to finish the day in the shallow end at 0.7065. More…

Switzerland

Even though it was off to a slow start, the Swissy was able to rally and end higher against the greenback yesterday. The USDCHF fell from a high of 1.0662 to a low of 1.0562 – that’s a hundred pips! – during the US session. More…