Daily Economic Roundup – March 10, 2010

What’s on the Economic Horizon
RBNZ Widely Expected to Keep Rates at 2.5%
Fed’s Feb Budget Balance Could Balloon
UK’s Industrial and Manufacturing Production on Tap Later

United States

The dollar went on a rumble early on yesterday, as it galloped its way against the euro and pound on increased risk aversion. However, as the day went by, the dollar bulls’ legs got tired and gave up some their gains. With more data on deck, what will we see today? More…

Euro Zone

Due to risk aversion, the euro found itself struggling to hold its ground against the dollar in yesterday’s trading session. The suspect? Downbeat comments from three time Greek Prime Minister George Papandreau! More…

United Kingdom

The Sterling Pound logged its second loss against the Yen and the greenback this week yesterday. The Cable (GBPUSD) fell and closed at 1.4995 from 1.5063. Similarly, the Guppy (GBPJPY) declined and settled at 134.94 from 136.01. More…

Japan

The Yen closed mixed yesterday against the other major currencies. Trading was a bit flat due to the lack of major economic flows from Japan and the US. More…

Canada

Despite the lack of economic reports from Canada and the US, the loonie was able to edge higher against the greenback during yesterday’s trading. In fact, the USDCAD slid by 85 pips from a high of 1.0321 to a low of 1.0236 during the US session. More…

Australia

A fresh wave of optimism pushed the Aussie to cruise higher against the greenback and the yen after economic reports highlighted the improving conditions in Australia. More…

New Zealand

Despite losing early on during the Asian session, the Kiwi was able to fight back and post some modest in yesterday’s trading session. From it’s Asian open price of 0.7003 the Kiwi fell as low as 0.6962 before bouncing back up to close the US trading session near Monday’s highest price levels at 0.7029. More…

Switzerland

After attempting to break the 1.08 handle, the USDCHF pair gave up much of its gains from earlier sessions. With the pair stuck in consolidation mode, maybe traders are just waiting for the SNB rate decision later this week. More…