Daily Economic Roundup – January 20, 2011

What’s on the Economic Horizon
New Zealand Retail Sales to Rebound in Nov
U.S. Existing Home Sales at 4.88M?
SNB Chairman Set to Testify Today

United States

Ka-blam! The anti-dollar sentiment did a Chuck Norris number and roundhouse-kicked the Greenback down against its major counterparts despite better-than-expected economic data from the U.S. EUR/USD topped at 1.3539 before ending the day 88 pips higher than its closing price. Meanwhile, USD/JPY plunged to 82.05, and GBP/USD rose for the ninth day to 1.5988. More…

Euro Zone

Like a boss, the euro pip-slapped the dollar and ignored all negative vibes yesterday. Now that’s how you keep your pip-hand strong! Although the current account report turned up worse than expected and ECB member Stark had a few bearish things to say, the euro forged its way to a new one-month high against the dollar. After hanging above 1.3500 for a while, EUR/USD settled at 1.3472 to record an 88-pip rise. More…

United Kingdom

The pound moved sideways against the Greenback yesterday, as it encountered resistance at the 1.6035 area and support at 1.5950. GBP/JPY, on the other hand, wasn’t so lucky because it edged almost a hundred pips lower than its open price of 131.78. More…

Japan

Attaboy, brotha! The yen clobbered its major counterparts yesterday on a bit of anti-dollar sentiment in markets. USD/JPY sailed down by 59 pips to 82.05, while GBP/JPY fell to 131.15. Meanwhile, EUR/JPY closed 8 pips lower than its open price after peaking at an intraday high of 111.06. More…

Canada

How quickly the tides have turned! Just a few days ago, the Loonie was in full-on bull mode. Now, it’s got back-to-back losses under its belt! Disappointing manufacturing sales data and a cautious tone from the Bank of Canada sent the Loonie lower against the Greenback, pushing USD/CAD 27 pips higher to close at .9956. More…

Australia

The Aussie joined the anti-dollar party yesterday as it gained on the Greenback despite the lack of economic reports in the Land Down Under. AUD/USD reached as high as 1.0078 before settling down at 1.0001, 24 pips above its open price. More…

New Zealand

The Kiwi was off to a strong start yesterday, as NZD/USD opened at .7704 and rallied to a high of .7788. Later on, its day took a turn for the worse when New Zealand released its quarterly CPI. Because of that, NZD/USD completely erased its gains for the day and closed 5 pips below its daily open price. More…

Switzerland

Yeaaah boy! Score another one for the stealthy Swissy! In spite of the U.S.’s awesome building permits data, the Swissy was able to have its way with the dollar for the second day in a row. As a result, USD/CHF was finally able to close below .9600, finishing at .9550 to post an 87-pip slide. More…