Daily Economic Roundup – December 2, 2010

What’s on the Economic Horizon
ECB Press Conference Today
Swiss Economy Expanded by 0.5% in Q3?
US Weekly Jobless Claims and Pending Home Sales Data Due

United States

Improved risk appetite gave the higher-yielding currencies enough courage to gang up on the Greenback yesterday, forcing it to choke up some of its recent gains. EUR/USD bounced from the 1.3000 area and reached a high of 1.3182 while GBP/USD rebounded from a low of 1.5485 to a high of 1.5649. More…

Euro Zone

CHAAAAAAARGGE!!! The euro bulls finally woke up from their slumber yesterday and boosted the euro like there was no tomorrow when positive economic reports popped up in the markets. EUR/USD jumped 157 pips to its 1.3137 closing price, while EUR/JPY soared by 194 pips. More…

United Kingdom

Ah, there’s nothing like the perfect combo of positive economic reports and risk appetite to get the pound cruisin’ up the charts. At the end of yesterday’s trading, GBP/USD was 64 pips higher at 1.5619 while GBP/JPY was up 128 pips at 131.47. Sweetness! More…

Japan

After USD/JPY bottomed at 83.38, the dollar started to choke-slam pips out of the yen until the pair closed the day 47 pips higher at 84.17. The Asian currency also got its butt kicked by the euro, losing 193 pips yesterday as EUR/JPY parked at 110.58. More…

Canada

The Loonie bulls did a Katy Perry number yesterday as the Loonie went “oh, oh, oh and it shot across the pip-sky-y-y” on a rally in risk appetite. After popping up three days in a row, USD/CAD plunged by 94 pips and closed at 1.0171. More…

Australia

Awesome Aussie for the rebound! Thanks to increased risk appetite, AUD/USD bounced from a low of .9538 and climbed to a high of .9695. AUD/JPY also enjoyed a nice rally as it rose almost 150 pips from the 80.00 area to a high of 81.45. More…

New Zealand

Using the .7400 handle as a springboard, NZD/USD skyrocketed to an intraday high of .7512. It then inched down to close the day at .7494 with the com-doll bagging 57 pips! More…

Switzerland

The franc gave up some of the pip love to the higher-yielding currencies yesterday when risk appetite came back with a vengeance. Though USD/CHF closed only 3 pips lower, EUR/CHF rebounded to an intraday high of 1.3192 before it ended the day 150 pips higher. More…