Daily Economic Roundup – December 22, 2010

What’s on the Economic Horizon

U.S. GDP to be Revised Up
MPC Minutes on the Clock
New Zealand Q3 GDP Due Today

United States

With no economic catalyst to direct their movements, investors were left as confused as a chameleon in a bag of Skittles! It should come as no surprise then that the Greenback gave another mixed performance on the charts. It edged out the euro, pound, and Loonie, weakened against the Aussie, Kiwi, and Swissy, and had a stalemate against the yen. More…

Euro zone

Another one bites the dust! The euro continued to take a beating from its major counterparts yesterday on lingering risk aversion in markets and not-so-awesome euro zone reports. EUR/USD dropping by another 31 pips at 1.3095, while EUR/JPY capped the day 26 pips lower after hitting an intraday high of 110.50. Meanwhile, EUR/CHF continued to make record lows as it fell by another 106 pips in the pip deeps. More…

United Kingdom

Thanks to some poor public finance figures, the pound found itself with the short end of the stick yesterday. GBP/USD closed 48 pips lower for the day to finish at 1.5462. More…

Japan

Unlike the previous day, the yen found itself on shaky ride yesterday, and had mixed results against its major counterparts. While USD/JPY closed at its opening price of 83.73, the yen did manage to post gains versus the euro and pound. However, the yen lost out against the Australian and New Zealand dollars. Will we see similar results today? More…

Canada

Ping ping ping ping!!! The Loonie lost another round to the Greenback yesterday on mixed economic reports from the land famous for its black crack. USD/CAD rose to an intraday high of 1.0207 before leveling off with a 12-pip gain at 1.0175. More…

Australia

Cowabunga, dudes! Like a true surfer, the Aussie was able to hold its head above water for the second straight day yesterday. With no big surprises from the RBA monetary policy meeting minutes, AUD/USD rose 27 pips while AUD/JPY climbed 23 pips. More…

New Zealand

Facepalm! The Kiwi gave up most of its gains against the scrilla yesterday when mixed economic reports showed up in New Zealand. NZD/USD soared to an intraday high of .7484 before it dropping to its .7430 closing price. More…

Switzerland

It looks like Swissy bulls are getting a head start to the holiday celebrations! For the second day in a row, the Swissy beefed up against the dollar and euro. Despite disappointing trade balance data, USD/CHF fell 59 pips to land at .9590 while EUR/CHF dropped 106 pips to finish at 1.2559. More…