Daily Economic Roundup – January 11, 2011

What’s on the Economic Horizon

Canadian Housing Starts to Tick Down?
IBD Consumer Optimism Index on Deck

United States

Just like Britney Spears’ new single, pips leaked from the dollar during yesterday’s trading as it lost to most of its counterparts. EUR/USD ended the day 72 pips higher at 1.2955 while GBP/USD closed at 1.5579 after opening at 1.5523. More…

Euro zone

Finally, euro bulls can breathe a sigh of relief! After taking a veeeery bad beating last week, they were finally able to lick their wounds. With help from better-than-expected French industrial production data, buyers pushed EUR/USD up 71 pips to have the pair finish at 1.2954. More…

United Kingdom

Back to back baby! For the second consecutive trading day, the pound finished ahead of the dollar. GBP/USD rose 55 pips to finish at 1.5579. Still, the pound hasn’t been as hot as the Heatles (ask Mr. Lebron James about that), as it failed to close above the 1.5600 handle. More…

Japan

It was a day of mixed trading for the yen yesterday, as it posted some nice gains versus the dollar but remained within range versus the euro. USD/JPY dropped 47 pips to close 82.73 after gapping up to start the week, while EUR/JPY finished just 5 pips lower to end at 107.17. More…

Canada

Let’s call it a draw! The Loonie stood its ground and didn’t budge against the Greenback in spite of weak economic data. USD/CAD finished the day practically unmoved at .9932. More…

Australia

Geronimooo! AUD/USD bungee-jumped 100 pips down from its intraday high to .9883 in yesterday’s trading. Good thing the bulls had enough adrenalin rush left to push the pair up to .9960, letting the Aussie score a 22-pip gain. More…

New Zealand

It’s all good, baby! Good vibes came from all around New Zealand thanks to a few positive reports to start the week. With all reports giving Kiwi bulls the green light, NZD/USD closed 43 pips higher at .7633. More…

Switzerland

The Swissy shed pips during yesterday’s trading despite a positive retail sales report. EUR/CHF closed 58 pips higher from its opening price at 1.2531. Boo! On the other hand, it only managed to end the day 9 pips higher against the dollar at .9673. More…