Daily Economic Roundup – March 12, 2010

What’s on the Economic Horizon

US Retail Sales on Deck
Euro Zone Industrial Production to Rebound in Jan
Unemployment in Canada to Remain at 8.3%

United States

The USD came out mixed again yesterday as it lost against the EUR, GBP, CAD, and CHF. Its only consolation was some close wins over the AUD and NZD. This time, it was the conflicting US trade balance and unemployment claims results that made investors a little iffy. More…

Euro zone

Consolidation was the name of the game for the EURUSD yesterday as it hovered between 1.3625 to 1.3680. The EURJPY pair, which was unable to break above 124.00, was range-bound as well. More…

United Kingdom

Finally! After falling the first three days of the week, the pound bounced back yesterday. The GBPUSD pair closed almost a 100 pips higher to end the day at 1.5060. Could this be the start of a comeback for the cable? More…

Japan

Trading on the USDJPY was as tight as an authentic sushi roll, as the pair traded within a tight 50 pip range! Meanwhile, the yen fell against the euro and pound, indicating that risk sentiment is still driving the yen. More…

Canada

The Loonie’s price action yesterday turned out to be a woozy! After bouncing around in a tight 20-pip range during the Asian trading session, the USDCAD simply blew up once the US trading session rolled along. The USDCAD went as high as 1.0320 before giving up all of its gains to close the day at 1.0239. More…

Australia

For the second day in a row, the Aussie failed to find direction in the currency markets. The AUDUSD closed the US session at 0.9151, just two pips higher from its Asian open price. Similarly, the AUDJPY ended the day hardly changed at 82.85. More…

New Zealand

The Kiwi moved in a tight cage yesterday, unable to break free despite the reported improvement in retail sales. The NZDUSD kept its head below the 0.7000 handle and dipped to a low of 0.6964. More…

Switzerland

The Swissy was somewhat flat yesterday as it just traded within a 50-pip range against the greenback. Still, it was able to log in some modest gains. The USDCHF fell and closed at 1.0686 from 1.0705. More…