Daily Economic Roundup – January 17, 2011

What’s on the Economic Horizon
Japan’s Household Confidence Survey on Deck
Australia’s New Motor Vehicle Sales Up 0.8% in December

United States

The dollar’s price action last Friday was as mixed as a glass of margarita when risk aversion played tug-o-pips with not-so-awesome economic data from the U.S. The Greenback ended the day higher against the yen at 82.98, but it also lost 51 pips to the pound and 24 pips to the euro. More…

Euro zone

Fall seven times, stand up eight! The euro completed its comeback and was basically able to erase its losses from the previous week! Last Friday, EUR/USD managed to add another 22 pips to its already magnificent recovery. More…

United Kingdom

And the pound completes the week with a clean slate! Goalkeepers around the world should take notes! With help from a strong PPI figure, the pound arose victorious last Friday, completing its shutout victory against the Greenback. GBP/USD rose to a new one-month high, rising 51 pips to end at 1.5873. More…

Japan

Where did all the pip-love go? Despite the lack of economic reports from the Land of the Rising Sun last Friday, the yen capped the day lower against its major counterparts. USD/JPY closed at 82.98 after dropping to an intraday low of 82.40, while EUR/JPY rose by 45 pips to 110.98. More…

Canada

What a woozy! USD/CAD’s price action last Friday looks like a reverse U: it rose very fast during the Asian session, but eventually gave up all of its gains once the U.S. trading session ended. The pair closed Friday at .9894, just two pips higher from its opening price that day. More…

Australia

The Aussie got clobbered by the Greenback last Friday despite the lack of economic reports from the Land Down Under. Risk aversion in markets and continued effects of flooding in Australia weighed on AUD/USD, dragging the pair 64 pips down after peaking at an intraday high of .9994. More…

New Zealand

It’s all about giving and taking for the Kiwi! After gaining ground and taking away pips from the Greenback for two straight days, it decided to give back some of its recent gain last Friday. At the end of the New York session, NZD/USD had slid 28 pips to finish at .7668. More…

Switzerland

USD/CHF was one of the quiet ones last Friday as it found itself pacing back and forth within a tight 80-pip range. The pair ended the day .9644, a mere 4 pips lower from its opening price during the Asian trading session. More…