Daily Economic Roundup – March 25, 2010

What’s on the Economic Horizon

Bernanke to Talk about Exit Strategies Today
Trichet to Discuss ECB’s Annual Report
UK Retail Sales Could Post 0.8% Rebound

United States

The dollar was spotted flexing its muscles against other currencies in the foreign exchange markets yesterday. The US dollar index, which tracks the performance of the dollar relative to a basket of foreign currencies, went up to its highest level in 10 months. More…

Euro zone

The EUR found itself flat on its face against the greenback yesterday. The EURUSD slid and settled at 1.3312 from 1.3499. The pair could be heading down all the way to 1.3000 since it already broke the significant 1.3400 support. Stay tuned! More…

United Kingdom

Risk aversion and weak fundamentals clobbered the pound yesterday, pushing the cable to a low of 1.4877 during the US session. The guppy was a bit more fortunate since it was able to keep its head above the 136.50 level. More…

Japan

Kamikaze! The Japanese yen dove sharply against the US dollar yesterday as risk aversion revisited the markets. As a result, the USDJPY broke out of its range and rallied to a high of 92.40 during the US session. More…

Canada

Yelp! The Loonie got stuck under an avalanche of risk aversion, allowing the dollar to come out ahead. The USDCAD closed at its highest level in almost 2 weeks, to finish at 1.0268. Bye bye parity? More…

Australia

The Aussie wiped out yesterday, as a wave of dollar buying caused by the risk aversion tide hit the trading shores. The AUDUSD fell over a hundred pips from its opening price to close at 0.9074. More…

New Zealand

The Kiwi closed mixed yesterday as it closed positively against the yen but dropped versus the dollar. The NZDJPY rose to and closed at 64.79 from 63.95. The NZDUSD, on the other hand, slid to 0.7020 from 0.7075. More…

Switzerland

Just like the euro, the Swissy found itself getting sold off on the news that Portugal’s credit rating was downgraded by Fitch. The USDCHF ended the US trading session at 1.0727, almost 150 pips higher from its Asian session opening price. More…