Daily Economic Roundup – December 17, 2010

What’s on the Economic Horizon
U.K. Nationwide Consumer Confidence Dipped in Nov
German Ifo Business Climate Reading Due

United States

Steady like a rock was the USD yesterday as a set of mixed reports had it chillin’ like it was on vacation! EUR/USD was unusually quiet and closed just 17 pips higher at 1.3237 while USD/JPY finished the day 25 pips lower at 84.02. More…

Euro Zone

The euro struggled to stay afloat against the U.S. dollar and the yen yesterday. EUR/USD consolidated above the 1.3200 handle and closed at 1.3220 while EUR/JPY ended the day at 111.23. More…

United Kingdom

Finally! The pound got its act together yesterday after taking a pounding against its major counterparts early in the week. GBP/USD jumped by 89 pips to 1.5634, while EUR/GBP plunged by 64 pips to 0.8468. Meanwhile, GBP/JPY rose to an intraday high of 131.65 before closing at 131.36. More…

Japan

No economic reports were released from the Land of the Rising Sun yesterday, but the yen’s price action is far from being a snoozer! The yen clobbered its major counterparts once again, with USD/JPY falling by 25 pips after climbing to an intraday high of 84.45, while EUR/JPY ended the day with a 19-pip loss. More…

Canada

The Loonie gave back some of its recent gains to the Greenback yesterday, as USD/CAD climbed to high of 1.0076. Weak data from Canada was the most likely culprit for the Loonie’s losses. More…

Australia

Little by little! The Aussie chipped away at its big loss on Wednesday and was the only comdoll that was able to make ground against the USD. In spite of lower inflation expectations, AUD/USD rose 33 pips to .9888. More…

New Zealand

It’s a tie! The Kiwi ended in a near draw against the Greenback yesterday despite the release of worse-than-expected economic data in New Zealand. NZD/USD reached its intraday levels at .7344 and .7407 before settling down with a 2-pip gain. More…

Switzerland

The Swissy was unusually perky yesterday as it was hyped up by a positive industrial production report and the SNB’s press conference. At the end of the day, USD/CHF 37 pips lower at .9646 while EUR/CHF dropped 32 pips and finished just 2 pips above its all-time low at 1.2768. More…