Daily Economic Roundup – May 14, 2010

What’s on the Economic Horizon

Canadian Manufacturing Sales Up by 1.1% in March
Retail Sales Shows Slower Growth In April

United States

Risk aversion is back baby! Once again, the dollar bulls made a killing across the board, posting gains against most other majors. With it being a Friday, could we see some profit taking? Or will the dollar remain king? More…

Euro zone

Make that four days in a row that the euro lost out against the dollar. After reaching a high of 1.2685 during the Asian trading the session yesterday, the EURUSD completely reversed its path and found itself dropping all throughout the European and US trading sessions to eventually close at 1.2531. More…

United Kingdom

The pound took a beating yesterday after the UK released a weaker than expected trade balance report for March. Because of that, the cable dropped by more than 300 pips while the guppy crashed below 136.00. More…

Japan

With risk aversion as its ally, the Japanese yen was able to rack up huge gains against its major counterparts yesterday. It even ended higher than the US dollar as the USDJPY sank below the 93.00 mark and closed at 92.80. More…

Canada

After starting off on the wrong foot during the Asian session, the Loonie fought back and struggled to erase some of its earlier losses. At the end of the scuffle, it closed at 1.0147 against the greenback. More…

Australia

Thanks to the better-than-expected results on Australia’s employment change report, the AUDUSD was able to enjoy a nice relief rally in yesterday’s trading session. It climbed strongly during the Asian trading session but eventually gave up some of its gains as the day went by and closed trading session with just a 30 pip gain. More…

New Zealand

Positive data on Australia’s employment report helped the Kiwi post some minor gains yesterday. By the end of the US trading session, the NZDUSD traded at 0.7148, up 20 pips from its Asian session price. More…

Switzerland

With the franc being highly correlated to the euro, it took a hit in trading as euro zone issues continued to weigh heavily on traders mindsets. This caused traders to shift their positions towards the dollar, which left other majors like the franc in the dust. More…