Daily Economic Roundup – March 26, 2010

What’s on the Economic Horizon
EU Summit to Determine EURUSD Direction
US Final GDP Due Today
UK Could Post 5.6% Decline in Business Investment

United States

Once again, the dollar cleaned up in yesterdays poker game… err trading sessions! The dollar rose against almost other majors. Will the winning streak continue as we end the week? Or will we some profit taking take place? More…

Euro Zone

The euro struggled to stay afloat in yesterday’s trading session. The EURUSD, after hitting an intraday high 1.3386, found itself dropping again to close the US trading session at 1.3286. For the entire week, the pair has lost a grand total 244 pips. All this euro zone debt drama is really weighing down heavily on the EURUSD. More…

United Kingdom

Put another mark at the pound’s lose column. The pound suffered another defeat against the greenback in yesterday’s foreign exchange tug-of-war. The GBPUSD fell to and settled at 1.4813 after touching a high of 1.5003 from 1.4866. More…

Japan

Nothing went right for the JPY yesterday as it went through another broad-based beating. The only people who were partying were the yen-bears. Will we see another round of yen whipping today or will the bears cash in their profits to end the month? More…

Canada

Even though Canada didn’t release any economic reports yesterday, the Loonie was able to edge higher against the greenback. The USDCAD dipped from the 1.0250 area to a low of 1.0171 during the US session. More…

Australia

The Aussie’s rally was short-lived yesterday since it was unable to hold on to its latest gains. The AUDUSD climbed to a high of 0.9141 before dropping back below the 0.9100 handle during the US session. More…

New Zealand

The NZDUSD went for a wild ride in yesterday, rallying strongly during the European session but eventually giving up its gains once the US trading session went underway. The pair closed the US trading session at 0.7042, hardly changed from its Asian open price of 0.7020. More…

Switzerland

After it looked like the Swissy was going to make a comeback, it lost track and ended up once again on the losing side versus the dollar. The USDCHF closed slightly higher at 1.0743. More…