Daily Economic Roundup – February 4, 2011

What’s on the Economic Horizon
Non-Farm Payrolls Up by 138K in Dec?
Canadian Employment Data Due Today
ECB President Trichet Set to Testify

United States

The greenback brought sexy back as yesterday’s reports got dollar bulls on an adrenalin high. After tapping an intraday high at 1.3826, EUR/USD plunged to a low of 1.3609. It then ended the day 174 pips lower than its opening price at 1.3635. More…

Euro Zone

Party’s over, boys! Dovish comments from the ECB and worse-than-expected reports from the euro region crushed the euro bulls’ party and plunged the euro against its major counterparts yesterday. EUR/USD plummeted 174 pips from its open price at 1.3635, while EUR/JPY dropped by 138 pips to 111.22. More…

United Kingdom

The pound bulls suffered an early February heartache yesterday when the currency bulls rained on their parade. After reaching week highs against its counterparts, the pound slipped and ended the day on the red. GBP/USD reached an intraday high of 1.6190 before closing at 1.6144, while GBP/JPY was enjoying an intraday high of 132.96 when the bears attacked and pushed it to 131.70. Talk about party pooper! More…

Japan

Ka-ching! The yen bagged a few easy pips yesterday when it gained against its pip pals despite the lack of report in Japan. Risk aversion in markets helped boost the yen, with EUR/JPY dropping by 138 pips to 111.22, an GBP/JPY plunging by 126 pips to 131.70. Meanwhile, the Greenback managed to sneak in 4 pips at 81.58 after reaching an intraday high of 82.07. More…

Canada

Without any economic data on tap, the Loonie got knocked out into the bear lair during yesterday’s trading, nursing a 27-pip loss. It was able to go as high as .9865 when the dollar threw in an uppercut that landed USD/CAD at .9910. More…

Australia

The Aussie was rollin’ on a river of pips yesterday as it closed at its four-week high against the Greenback. Thanks to positive reports from the Land Down Under, AUD/USD went on an uptrend all the way up to its closing price of 1.0160 after it opened at 1.0085. More…

New Zealand

That’s strike two for the Kiwi! The New Zealand dollar plunged against the Greenback for the second day in a row yesterday as risk aversion settled in markets. Good thing NZD/USD contained its losses to a 54-pip hit after dropping to an intraday low of .7690. More…

Switzerland