Daily Economic Roundup – December 20, 2010

What’s on the Economic Horizon

Australian Leading Index Due Today
Current Account Figures on Tap
Canadian Wholesale Sales seen at 0.7%

United States

The dollar’s scorecard during Friday’s trading was as mixed as reviews for Tron:Legacy. Although it lost 15 pips to the yen and six pips to the Aussie, it was able to bag 116 pips from the pound as GBP/USD closed at 1.5519 after tapping its 3-month low at 1.5454. EUR/USD also ended the week in favor of the dollar at 1.3185, down 53 pips from its opening price. More…

Euro zone

After steadily climbing up the charts throughout the day, the euro tripped all over itself midway through the London session and proceeded to make new lows. EUR/USD fell a good 200 pips from its highs for the day to finally close at 1.3815, just below key support at 1.3200. More…

United Kingdom

Ka-blam! The pound was hit by a double combo of gloomy economic reports last Friday, which caused the pound bears to launch an early end-of-year party. GBP/USD took a 116-pip hit at 1.5519, while GBP/JPY plunged by 120 pips at 131.16. Meanwhile, EUR/GBP reached an intraday high of .8553 before ending the week at .8496. More…

Japan

Yokatta koto! Risk aversion enabled the yen to clobber its major counterparts for another day last Friday despite the lack of economic reports from Japan. USD/JPY suffered a 15-pip loss, while EUR/JPY dropped by 137 pips from its intraday high and closed at 110.58. More…

Canada

Given the absence of economic hollers from Canada, the Loonie’s loss to the dollar wasn’t as surprising as Paramore’s breakup. USD/CAD skyrocketed to its closing price of 1.0129 after it dipped to an intraday low of 1.0039, bustin’ 69 pips from the Loonie. More…

Australia

The Aussie bounced along a tight 38-pip range against the Greenback last Friday on the lack of economic reports from the Land Down Under. AUD/USD finally ended its battle with a 6-pip loss at .9882. More…

New Zealand

Relatively tight trading for the Kiwi, which didn’t move too much over the latter half of last week. NZD/USD traded within a range of 75 pips last Friday, ending the day just 10 pips below its opening price. Could we see more of the same this week? More…

Switzerland

The range on EUR/CHF during Friday’s trading was as tight as Katie Perry’s jeans. It opened at 1.2768 and fell to a new all-time low at 1.2720 before closing just 3 pips from its intraday high at 1.2792. The Swissy also lost to the dollar, erasing the win it posted on Thursday, as USD/CHF closed 58 pips higher at .9702. More…