Daily Economic Roundup – December 8, 2010

What’s on the Economic Horizon

RBNZ Expected to Keep Rates Steady
German Industrial Production: Downside Surprise?
Japan GDP Revised To 0.8%?

United States

Score another one for the Greenback! It recorded its second win against the euro this week as Obama was able to strike a tax deal with Republican leaders yesterday. As a result, EUR/USD fell from its intraday high of 1.3401 and didn’t stop until it closed at 1.3274. More…

Euro zone

Boy how things change quickly eh? It looked like the euro was headed for some nice gains early in yesterday’s London session, but lost pace just as New Yorkers clocked into Wall Street. After testing the 1.3400 handle, EUR/USD tumbled down the charts to close at 1.3274, closing 39 pips lower for the day. More…

United Kingdom

With positive data as its Piptorade, there was no stopping the pound from knocking pips out of its counterparts. Boom, boom, ka-pow! GBP/USD closed the day 48 pips higher at 1.5770 while EUR/GBP was down 51 pips at .8417. More…

Japan

With one disappointing report printing after another, it wasn’t much of a surprise to see USD/JPY skyrocket past the 83.00 psychological handle and land at 83.47 at the end the day. The yen lost 87 pips to the dollar yo! More…

Canada

Farewell, parity! The Loonie waved goodbye to parity against the dollar yesterday as USD/CAD moved higher up the charts. As the BOC held interest rates at 1.00% and made some cautious comments, the pair rose from its intraday low of 1.0012 and finished over 100 pips higher. More…

Australia

Drats! The dollar was just too hot to handle for the com-doll homies. After AUD/USD peaked at .9966, the pair went on a downtrend all the way to its closing price of .9841, giving the Aussie a 57-pip loss. More…

New Zealand

After partying too hard on risk appetite booze earlier in the day, the Kiwi found itself with a hangover, puking pips all over the place. After testing weekly highs around .7650, NZD/USD bent over and coughed out almost 100 pips to end the day at .7578. More…

Switzerland

The Swissy showed that it ain’t ready to hang with the big boys as it slipped against the euro and the dollar yesterday. EUR/CHF climbed 33 pips to finish at 1.3107 while USD/CHF rose 55 pips and closed at .9875. More…