Daily Economic Roundup – January 14, 2011

What’s on the Economic Horizon

U.S. Retail Sales, PPI, UoM Consumer Sentiment Survey on Tap
Euro zone CPI to Print a 2.2% Rise

United States

Yeouch! For the third day in a row, the dollar found itself on the back foot of other major currencies due to the successful results on Spain and Italy’s bond auctions. The encouraging debt auctions helped prop up risk appetite, which caused traders to exchange their dollars for higher-yielding currencies. In just one day, the dollar gave up more than 200 pips to the euro. More…

Euro zone

Ka-ching! The euro be makin’ it rain pips yo!!! The shared currency skyrocketed yesterday on account of successful bond auctions and hawkish remarks from the ECB. At the end of the day, EUR/USD had rallied 218 pips and finished at 1.3350 while EUR/JPY rose 161 pips and closed at 110.56. More…

United Kingdom

And just like that *snap*, the pound scores its fifth consecutive win against the dollar. Hollah! GBP/USD staged a strong break above the 1.5800 handle after consolidating around its opening price of 1.5768 during the Asian session. It then tapped its three-week high at 1.5884 before closing finally closing the day at 1.5823. More…

Japan

The yen’s scorecard was as mixed as a Long Island Iced Tea for a second day in a row. It lost to the euro when EUR/JPY closed 158 pips higher at 110.53 but gained 17 pips from the dollar when USD/JPY ended the day at 82.80. More…

Canada

As though they hand blinders on, CAD bears ignored yesterday’s positive trade figures and sold off the currency anyway! They didn’t stop until USD/CAD had reached .9892, up from .9869 at the beginning of the day. More…

Australia

The Aussie showed that it could take on the heat like LeBron by ending the day with an 8-pip win against the dollar at .9960 despite a disappointing employment report. Heck! AUD/USD even chilled at parity for a while! More…

New Zealand

What a way to set yourself apart, Kiwi! The Kiwi walked tall yesterday as it was the best-performing currency among the comdolls. NZD/USD ended the day at .7693 after climbing 66 pips up the chart. More…

Switzerland

Hep hep Hooray! Apparently, the success of the Spanish and Italian government bond auctions yesterday that propped up the euro also proved to be beneficial for the Swissy. USD/CHF ended the day at .9648, 16 pips lower from its opening price. More…