Daily Economic Roundup – February 1, 2011

What’s on the Economic Horizon
Swiss Retail Sales Up by 2.6%?
U.S. ISM Manufacturing PMI on Tap
German and Euro Zone Unemployment Data Due

United States

The dollar’s performance in yesterday’s trading was as mixed as reviews for my bro Jake Gyllenhaal’s movie, Love And Other Drugs. It lost to its higher-yielding counterparts, giving up the most to the pound and the euro, while gaining against the yen and the Swissy. More…

Euro Zone

The euro ended January with a bang as EUR/USD soared from an open price of 1.3582 to a high of 1.3740 yesterday. EUR/JPY also made a nice comeback as it climbed by more than a hundred pips after consolidating in the 111.50 area. More…

United Kingdom

No reports were released from the U.K. yesterday, but the Sterling pounded its counterparts down the charts on rising oil prices concerns. This motivated the pound bulls to push GBP/USD 170 pips higher at 1.6019, and GBP/JPY 158 pips ahead to 131.47. More…

Japan

Whoops! The yen was slipped like it was on mudslide against its pip buddies yesterday despite a better-than-expected economic report from the Land of the Rising Sun. USD/JPY inched up by 8 pips to 82.08, and GBP/JPY rose by 158 pips to 131.47. Meanwhile, EUR/JPY also climbed 93 pips higher than its open price at 112.36. More…

Canada

Despite a strong GDP report, the Loonie ended yesterday’s trading almost unchanged against the Greenback. USD/CAD spiked to an intraday high of 1.0059 before closing at 1.0015, just one pip lower than its closing price. More…

Australia

Score another one for the Aussie! The currency gained on the Greenback for the second day in a row when risk aversion eased a bit in markets. AUD/USD rose by 73 pips to .9965 after hitting an intraday low of .9867. More…

New Zealand

Ho humm… NZD/USD was stuck in a range yesterday as it bounced a couple of times from the .7685 area and found resistance near .7740. Is there anything on today’s economic schedule that could trigger a breakout? More…

Switzerland

The Swissy was bullied into the bear lair yesterday as the absence of economic reports made it a victim to market sentiment. It lost 27 pips to the dollar when USD/CHF closed at .9441 and 133 pips to the euro as EUR/CHF ended the day at 1.2925. More…