What’s on the Economic Horizon
Initial Jobless Claims to Climb to 442,000 from 434,000
ECB Widely Expected to Keep Rates Unchanged at 1.0%
BOE Decision on Rates and QE Program Due Today
United States
Thar she blows! After having investors on the edges of their seats for weeks, the FOMC finally made its big statement and detailed its plans for its second round of quantitative easing. All of the major currency pairs rose sharply after the announcement was made, with the Greenback losing to all of its counterparts except for the yen. EUR/USD ended the day over 100 pips higher at 1.4139, while the Greenback salvaged a victory against the yen as it closed at 81.07 with a 44 pip gain. More…
Euro zone
When the dollar’s in trouble, we all know who’s happy… the euro! The announcement of the slightly more aggressive quantitative easing program of the Fed helped the EUR/USD bulls push convincingly above 1.4100 handle yesterday. By the end of the U.S. trading session, EUR/USD was trading at 1.4143, more than 100 pips from its opening price during the Asian session. More…
United Kingdom
Did you smell what the pound was cookin’ in yesterday’s trading? If you answered pips, then give yourself a pat on the back! It tapped its 10-month high against the dollar at 1.6174 before calling it a day with 41 pips at 1.6082. Boo yeah! More…
Japan
And that’s three for three! The yen scored its third straight loss against the dollar on Wednesday as USD/JPY peaked at 81.59 before closing 44 pips higher at 81.07. Ouch! More…
Canada
The Loonie isn’t one to get left out. It joined yesterday’s winners club, too! Though its gains were a lot more modest compare to others’, it also rose against the Greenback. USD/CAD closed 29 pips lower at 1.0053, but only after spiking up to 1.0157 when the FOMC made its much-awaited statement. More…
Australia
Surf’s up for the Aussie! After getting wiped out at parity a couple of times during yesterday’s trading, the com-doll wowed the market when it pulled off a hang ten by ending the day at 1.0062 against the dollar. In case you don’t know, that’s a new high mates! More…
New Zealand
Up, up, and away! With a lot of help from the FOMC’s decision, the Kiwi was able to stage a respectable rally yesterday. From NZD/USD’s opening price of .7715, it managed to rise all the way up to .7798. More…
Switzerland
Good news came from everywhere for Swissy bulls yesterday! Not only did they find fundamental support for their currency from the retail sales report, but thanks to the Fed’s QE2, they also benefited from USD weakness. As a result, USD/CHF plummeted from its opening price of .9795 and rested at .9707. More…
