Daily Economic Roundup – December 16, 2010

What’s on the Economic Horizon
SNB Monetary Policy Assessment Due Today
EU Economic Summit Kicks Off
US Weekly Jobless Claims Still at 421K?

United States

Everybody, make way! Dollar comin’ through! Yesterday, we witnessed the mighty dollar muscle its way through forex markets as risk aversion hit markets yet again. It gained against almost all of its major counterparts, with EUR/USD falling 160 pips and GBP/USD taking a monstrous 237-pip dive. More…

Euro Zone

EUR/USD opened at what would be its intraday high at 1.3380 and fell down to its closing price of 1.3220 faster than you can say, “I want an Android for Christmas!” Against the yen, the shared currency sustained a 61-pip loss with EUR/JPY ending the day at 111.41. More…

United Kingdom

WTFs and OMGs resounded in the markets yesterday, not because of news that Ryan Reynolds and Scarlett Johansson are both single again. Rather, it was because of the pound’s slide against the dollar from its opening price of 1.5783 to 1.5545! More…

Japan

As it tends to do in times of risk aversion, the Japanese yen walked tall and held its head above the forex crowd yesterday. Save for the dollar and Loonie, it gained against all of its major counterparts. EUR/JPY fell 61 pips to 111.41 while GBP/JPY slid 113 pips to 131.01. More…

Canada

Hooray for the Loonie! It was the only major currency that was able to hold its ground against the Greenback yesterday, as USD/CAD dipped close to parity again. Are there any catalysts on deck for a break below 1.0000? More…

Australia

Look out below! Egged on by risk aversion, the Aussie took a sharp dive yesterday. AUD/USD fell 130 pips to land at .9855 while AUD/JPY dropped 55 pips to 83.05. More…

New Zealand

Being one of the biggest losers against the dollar in yesterday’s trading, the Kiwi definitely didn’t feel so fly like a G6. It ended the day at its 2-month low at .7381 suffering a whopping 138-pip loss. Ouch! More…

Switzerland

Consolidation was the name of the game for USD/CHF yesterday as the Swissy struggled to hold on to its recent gains amidst risk aversion’s comeback. However, the Greenback fought harder, pushing USD/CHF to close higher at .9682. More…