Daily Economic Roundup – March 4, 2010

What’s on the Economic Horizon

BOE Interest Rate Decision Today
ECB Widely Expected to Keep Rates at 1.0%
US Pending Home Sales & Factory Orders Expected to Rise
Canada’s Ivey PMI to Leap from 50.8 to 56.0

United States

The dollar cried “Uncle” in yesterday’s trading session, as it got beaten up across the board on increased risk appetite and news coming out of the euro zone. For the 2nd day in a row, the EURUSD finished higher to close at 1.3696. More…

Euro Zone

The euro proved to be the alpha-currency in yesterday’s trading session as it pulled back just a few pips below the 1.3700 region. The upward move was all thanks to news about Greece… Again. More…

United Kingdom

The Pound delivered a pounding on the USD bulls as it was able to catch them on their blindside. The Cable (GBPUSD) soared to 1.5097 from 1.4960. More…

Japan

The Yen was a little fickle yesterday as it settled mixed against the other major currencies. The major economic releases in the UK, euro zone, and the US today, however, could swing the Yen in either direction. More…

Canada

The Loonie made headway against the greenback in yesterday’s trading as the USDCAD dipped to a low of 1.0275. Even though Canada didn’t release any economic reports, the Loonie was able to take advantage of the surge in risk tolerance. More…

Australia

G’day mate! Australia’s economy is looking sharp, isn’t it? Upbeat reports from both Australia and the US stoked the AUDUSD up to a high of 0.9086 in yesterday’s trading. More…

New Zealand

While other major currencies staged nice rallies yesterday, the Kiwi found itself losing a bit of ground against the dollar. The NZDUSD ended the US trading session at 0.6949, down 10 pips from its Asian open price. More…

Switzerland

The Swissy traded at a two week high versus the dollar, as it benefitted from increased optimism yesterday. The USDCHF ended the day at 1.0680, 70 pips lower from its opening price. More…

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