Daily Economic Roundup – January 10, 2011

What’s on the Economic Horizon

NZ Business Confidence on the Rise?
Halifax Index on Tap
ECB President Trichet to Speak in Basel

United States

The dollar’s scorecard was as mixed as the reviews for Nicholas Cage’s movie, “Season of the Witch”. It stacked up its gains from the euro to 438 pips for the week when EUR/USD closed at 1.2910. On the other hand, it lost 28 pips and 72 pips to the yen and the pound, respectively. More…

Euro zone

Instead of dancing to Trey Songz’ tune, the euro bottomed out against its major counterparts last Friday on dollar demand and euro-aversion in markets. EUR/USD took a 156-pip hit and ended the day at 1.3224. Meanwhile, EUR/JPY plunged by 124 pips and closed at 107.20. More…

United Kingdom

The pound finished of the first week of 2011 on a steady note, as it posted a 70 pip gain versus the dollar on Friday. Still, the pair has largely remained with a tight range. Will it continue to do the same this week, or is a breakout imminent? More…

Japan

The lack of economic hollers wasn’t a problem for the yen in Friday’s trading as it wrestled pips out of its counterparts. It choke-slammed the euro from its intraday high of 108.56 all the way to its 4-month low at 106.95. It also pared some of its losses against the dollar USD/JPY closed 28 pips lower at 83.04. More…

Canada

Just like last weekend’s top box-office hit, the Loonie showed true grit against the Greenback last Friday. USD/CAD suffered a 50-pip loss on better-than-expected economic reports in Canada. Boo yeah! More…

Australia

After inching down to its intraday low of .9907, the Aussie pulled off a rocketeer on the dollar and surged to its peak at .9993. Sha-bam! AUD/USD then ended the day at .9965 with a 26-pip win for the com-doll. More…

New Zealand

At least it wasn’t a sweep! After four days of consecutive losses, the Kiwi finally posted some gains on Friday. After opening at .7573, the pair finished 38 pips higher to finish at .7611. More…

Switzerland

The franc’s price action was as mixed as the colors of M&Ms when it traded lower against the Greenback, but higher against the euro. EUR/CHF plummeted by 74 pips to 1.2484, while USD/CHF ended the day 23 pips higher than its open price after dropping to an intraday low of .9606. More…