Daily Economic Roundup – January 12, 2011

What’s on the Economic Horizon

Aussie Employment Figures Due Tomorrow
U.S. Treasury Secretary Geithner To Talk in D.C.
Japanese Core Machinery Orders on the Rise

United States

Hang in there, brotha! With the lack of economic data released from the U.S. yesterday, the dollar danced to the tune of reports from abroad. The Greenback managed to gain on most its major counterparts, with USD/JPY climbing 48 pips to 83.21. Meanwhile, EUR/USD closed at 1.2981 after hitting an intraday low of 1.2905. More…

Euro zone

The euro has a new fan in Japan! It found support half way around the world yesterday as Japan pinky-swore to buy euro bonds. EUR/USD was able to climb for the second day in a row, rallying 27 pips to 1.2981 while EUR/JPY leapt 84 pips to 108.01. More…

United Kingdom

Overcoming a lousy report early in the day, the pound staged a magnificent rally to record its third straight victory again the Greenback. Cable rose from an intraday low of 1.5513 and finished the day off at 1.5619. More…

Japan

What happened to all the yen bulls? Was there a Naruto convention somewhere? The yen lost against most of its major partners yesterday, as USD/JPY closed nearly 50 pips higher at 83.21, while EUR/JPY rose 84 pips to end the day at 108.01. More…

Canada

Oops, it did it again! The release of the less-than-stellar housing starts report did nothing to curb the Loonie’s lucky streak. Despite the report declining from 198,000 in November to 172,000 in December, the Loonie gained on the Greenback yesterday when other currencies are botching against it. USD/CAD dropped by 34 pips to .9898 after it hit an intraday high of .9951. More…

Australia

The unending downpour that has caused flash floods in the north continues to weigh heavily on the Aussie. Once again, it lost out in yesterday’s trading, as AUD/USD tipped the scales 84 pips lower at .9876. Is there no end in site? More…

New Zealand

No love for the Kiwi yesterday… Kiwi traders shrugged off the positive economic releases early in the day and sold off the currency anyway! NZD/USD opened at .7633 and finished the day off at .7610. More…

Switzerland

Looks like the franc bulls aren’t ready to show some love yet! The franc continued to lose against its major counterparts yesterday despite the lack or reports from Switzerland. USD/CHF gained by another 59 pips yesterday, and even reached an intraday high of .9784. EUR/CHF also ended the day on the green at 1.2641. More…