Daily Economic Roundup – December 3, 2010

What’s on the Economic Horizon
NFP Report to Print 143K Increase In Hiring
Canadian Employment Report on Tap
UK Services PMI to Hold Steady at 53.2

United States

Tsk tsk. The Greenback shook its head in frustration yesterday as it suffered another round of losses against its major counterparts. Risk appetite, boosted by a good turnout in the Spanish bond auction, allowed higher-yielding currencies to clobber the safe-havens. Because of that, EUR/USD was able to sustain its rally all the way up to a high of 1.3248. More…

Euro Zone

I hope you’re keeping count because that makes it two in a row, son! After rumors went around that the ECB was buying bonds, the markets went gaga for the euro. EUR/USD chalked up its second straight win against the dollar after declining sharply in the past couple of weeks. The result of yesterday’s trading: EUR/USD at 1.3224 with an 87-pip gain. More…

United Kingdom

Among the majors, the pound was the only one that lost against the Greenback in yesterday’s trading. Boo! GBP/USD tumbled from a high of 1.5668 all the way down to 1.5512. Risk appetite then boosted the pair a bit to close at 1.5599, but it wasn’t enough to end the day with a win for the pound. More…

Japan

The yen’s scorecard in yesterday’s trading was as mixed as the reviews for Spiderman: Turn off the Dark! It erased some of its losses against the dollar as USD/JPY closed 28 pips lower at 83.89. On the other hand, it took another beating from the euro when EUR/JPY ended the day 36 pips higher at 110.93. More…

Canada

No Canadian reports? No problem! The markets went crazy for the Loonie yesterday and bought it up like it was going out of style. The broad risk rally saw USD/CAD fall 132 pips to approach parity and land at 1.0040. More…

Australia

The Aussie was still able to get its groove on and end the day with a win despite mixed reports. After tumbling to .9630, the com-doll shook its tush to rally up the charts and park 78 pips higher at .9759. More…

New Zealand

Yo Kiwi! Teach me how to dougie! With risk appetite back in fashion, the Kiwi was lookin’ fresh yesterday as it found itself walking up the charts with swagger. NZD/USD ended the day at 1.7545 with a solid 51-pip gain. More…

Switzerland

Whee! The Swissy must’ve felt that Christmas came early this year as it reeled in a bunch of profits against the Greenback. Thanks to risk appetite and better than expected Swiss GDP, USD/CHF slid back below the 1.0000 handle and reached a low of 0.9889. More…