Daily Economic Roundup – March 5, 2010

What’s on the Economic Horizon

NFP Estimate Revised from -40K to -56K
UK’s Input PPI to Show a 0.1% Rise
January German Factory Orders To Rise 1.6%

United States

Dollar domination! Traders flocked to the safe-haven US dollar after economic reports from the US came in much weaker than expected. Does this set the stage for today’s much-awaited event, the non-farm payrolls report? More…

Euro zone

A day after posting some nice gains, the euro got burned once again in yesterdays trading session. The EURUSD erased its winnings by closing a 100 pips lower at 1.3596. More…

Japan

No thanks to currency intervention fears, the yen was sold-off against the US dollar in yesterday’s trading session. From the USDJPY’s intraday low of 88.13, the pair soared almost a hundred pips to end the US session just a couple of pips above 89.00. More…

United Kingdom

The Cable found itself drowning under the 1.5100 handle again yesterday when worse-than-expected data from the US came out. The Cable closed the US trading session at 1.5030, roughly 70 pips lower from its Asian open price. More…

Canada

The Loonie managed to edge the dollar for the fifth straight time yesterday. The USDCAD fell and closed at 1.0306 from 1.0319. More…

Australia

The Aussie snapped its 4-day winning streak against the greenback yesterday. The AUDUSD slid from 0.9055 to close at 0.9012. This drop in the Aussie’s valuation could have due to some profit taking actions. More…

New Zealand

Despite the lack of any local data coming out, the Kiwi took a hit yesterday. The NZDUSD took the most noticeable hit amongst com-dolls, falling about 60 pips to end the day at 0.6871. More…

Switzerland

The Swissy returned its recent gains to the greenback as risk aversion took hold yesterday. As a result, the USDCHF made a steady climb from the 1.0650 level to the 1.0800 mark. More…