Daily Economic Roundup – December 6, 2010

What’s on the Economic Horizon
Canadian Building Permits and Ivey PMI to Post Declines?
Australian Job Advertisements Jump by 2.9%
Bernanke Doesn’t Rule out QE3

United States

BOOOOO!!! The markets’ boos for the Greenback were as loud as the Cavs fans’ boos for Lebron last NFP Friday when employment reports released from the U.S. painted a gloomier picture for the economy. USD/JPY plunged 118 pips to its 82.71 closing price, while EUR/USD soared by 188 pips to 1.3411. More…

Euro Zone

With concerns in the U.S. taking center stage again, the euro rallied as if the markets had forgotten all about the European debt crisis! It scrambled almost 200 pips higher against the dollar, but was held to a draw against the yen. More…

United Kingdom

Because of dollar weakness, even the pound was welcomed into the winners club! GBP/USD posted an awesome 173-pip climb last Friday, riding bad U.S. data all the way to the top! More…

Japan

Yen bulls attaaaaack! The currency bulls ditched the dollar for the yen last Friday after the NFP report in the U.S. showed disappointing numbers. USD/JPY plummeted by 118 pips to 82.71. Meanwhile, EUR/JPY only closed a pip lower at 110.93 after dropping to its intraday low of 109.89. More…

Canada

USD/CAD dipped close to parity last Friday right after the U.S. NFP report churned out disappointing figures. The pair hit a low of 1.0003 after the NFP release then rebounded to a high of 1.0081. Will it have another rendezvous with parity this week? More…

Australia

Boooing!!! Like the famous kangaroo from the Land Down Under, the Aussie leaped higher against the Greenback last NFP Friday on a surge of anti-dollar sentiment in markets. AUD/USD rose for the third day in a row at .9923, 165 pips higher than its open price. More…

New Zealand

And with that, the Kiwi completed its comeback! Thanks to bad U.S. nonfarm payroll data, it was able to stage a strong rally, rising a total of 114 pips last Friday to end the week positive. More…

Switzerland

Talk about a strong rally! The Swiss franc made a run for it last Friday, pushing USD/CHF down by almost 200 pips after the NFP report. It looks like traders were really disappointed with the U.S. economy as they dumped their dollars for francs! More…