Daily Economic Roundup – March 8, 2010

What’s on the Economic Horizon

Euro Zone Industrial Production Likely Rose by 1.0%
Canadian Housing Starts Report on the Docket
RBNZ Expected to Keep Rates at 2.50%
Swiss Retail Sales and Jobless Rate Due Later

United States

Risk appetite placed the USD back on camp last Friday. The dollar incurred a broad-based loss versus the high yielders following a smaller drop in US payrolls. The dollar only strengthened against its counterpart in the East, the Japanese Yen. The USDJPY jumped to 90.36 from 89.12. More…

Euro zone

The Euro logged in wins against the ‘safer’ Dollar and Yen last Friday following a better-than-expected US NFP employment change. The EURUSD slightly rose to 1.3620 from 1.3590. The EURJPY, on the other hand, soared to 123.07 from 121.11. More…

United Kingdom

The pound ended on a high note, as it erased most of the losses it had made to start the week. After trading as low as 1.4785 on Monday, the return of risk appetite boosted the GBPUSD, helping it close at 1.5145, just 50 pips away from its weekly opening price. More…

Japan

The yen took a beating following the release of the NFP report, falling across the board. The USDJPY rose back up the 90.50 price area, while the GBJPY shot up over 250 pips from its opening price to end the day at 136.84. More…

Canada

Unlike its fellow commodity-based dollars, the Loonie was unable to post significant gains on the dollar last Friday. It closed the day at 1.0306, exactly the same as its opening price during the Asian session that day. More…

Australia

Risk appetite swung in full last Friday when better-than-expected employment figures in the US came out. We all know what this means… Yep, a major rally in the commodity-based currencies. The Aussie ended Friday at 0.9080, almost 150 pips higher from its opening price that week. More…

New Zealand

What a day for comdolls like the Kiwi, as risk appetite was back in vogue! The NZDUSD shot up 100 pips to close out at at 0.6971, erasing losses made earlier in the week. More…

Switzerland

Like the other non-dollar currencies, the Swissy posted some gains after a smaller-than-expected drop in February US payrolls last Friday. The USDCHF fell and settled at 1.0742 from 1.0763. More…