Daily Economic Roundup – March 11, 2010

What’s on the Economic Horizon

US Trade Deficit to Widen
British Consumer Inflation Expectations Today
NZ: January Retail Sales to Rise

United States

The greenback’s performance yesterday was mixed as it edged higher against the pound, yen, and Loonie but ended weaker against the euro, franc, and Aussie. Did the lack of US economic reports leave the greenback directionless for the past 24 hours? More…

Euro zone

Once again, the EURUSD was stuck within a range, as it has for the better part of a trading week now. With not much high impact data coming out yesterday, the pair finished higher at 1.3651. More…

Japan

After the yen’s strong performance last Tuesday, the currency found itself struggling to stay afloat in yesterday’s trading session. The yen fell closed the day lower against the major currencies yesterday, especially versus the euro. More…

United Kingdom

After the dropping like a rock on Tuesday, the Cable was able to hold on for dear life and trade sideways yesterday. It started out the Asian session at 1.4994, went as low as 1.4871, before retracing most of its losses to close the US trading session hardly changed at 1.4975. More…

Canada

The Loonie’s price action was like a roller coaster ride yesterday. It opened up weak but was bought up during the start of the European session. Buyers continued to scramble for it when the news that Greece’s debt problem is ‘over’ came out. Investors then quickly took their profits which of course pushed the currency back near to where it initially opened. More…

Australia

The Aussie extended its winning streak against the USD yesterday though its lead over it was a lot tighter than that the previous ones. The AUDUSD logged in a modest gain and rose it 0.9149 from 0.9140. More…

New Zealand

After nearly testing the 0.7100, the Kiwi gave back much of its gains against the dollar following the RBNZ statement. The NZDUSD pair ultimately closed at 0.7024. More…

Switzerland

The Swissy staged a strong rally against the greenback yesterday, forcing the USDCHF to dip to a low of 1.0685. Switzerland and the US didn’t release any economic reports yesterday. What’s in store for today? More…