Daily Economic Roundup – May 11, 2010

What’s on the Economic Horizon

Australian Budget Release Today
UK Manufacturing Production up by 0.3% in March
SNB’s Hildebrand and IMF’s Kahn Set To Speak

United States

After increased risk appetite pushed the dollar lower versus higher yielding currencies, it seems that the risk aversion mist hasn’t quite left the markets just yet. Despite gapping 150 pips higher to start the week and hitting an intraday high of 1.3094, the pair gave back all of its gains and and filled the weekend gap. More…

Euro zone

The euro’s victory party early on during the Asian trading session yesterday proved to be short-lived. After opening up the week strongly at 1.2783 and going to a high of 1.3093, the EURUSD immediately started falling during the European trading session, eventually closing the day – and the weekend gap – at 1.2784. More…

United Kingdom

The pound tossed and turned yesterday, with the cable enjoying a quick stay above the 1.5000 handle before quickly erasing its gains. Meanwhile, the guppy broke above the psychological 138.00 resistance, hit a high of 140.59, then retreated back to 138.00. More…

Japan

The Japanese yen was off to a weak start yesterday as euro zone’s “Mega Rescue Plan” brought risk appetite back in play. On top of that, rumors that the BOJ is considering more quantitative easing measures put more downward pressure on the yen. More…

Canada

The Loonie chalked up some gains against the US dollar yesterday, bringing the USDCAD below the 1.0300 handle. Investors seem to have gotten their risk-taking groove back, pushing the com-dolls slightly higher. Would the Loonie sink or swim today? More…

Australia

Yesterday turned out to be a wonderful day for the AUDUSD. After gapping up to open the week at 0.8970, the AUDUSD climbed to a high of 0.9079 before settling at 0.9023 by the end of the US trading session. More…

New Zealand

The Kiwi turned out to be another beneficiary of yesterday’s risk appetite run. The NZDUSD gapped up to open the week at 0.7197, climbing to a high of 0.7297, before eventually ending the US trading session 0.7227. More…

Switzerland

The Swissy followed the euro’s lead, stepping ahead of dollar early in yesterdays trading session, before stumbling to the finish line. The franc finally ended up on the losing end, with the USDCHF closing at 1.1113. More…

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