Daily Economic Roundup – January 24, 2011

What’s on the Economic Horizon

Aussie PPI Disappoints
RBNZ Rate Decision Later This Week
PMIs to sustain EUR?

United States

The dollar was the forex world’s whipping boy as it took the fall in all dollar pairs last Friday. The broad dollar selloff saw EUR/USD finally break down resistance at 1.3500 as the pair closed 140 pips higher at 1.3614. More…

Euro zone

Just like Blake Griffin of the L.A. Clippers, the euro wowed traders again on Friday as it closed at its 8-week high against the dollar at 1.3614, stacking up its gains to a total of 218 pips for the week. Against the yen, it was able to dunk 57 pips and end the week at 112.41. More…

United Kingdom

Whoa! Despite disappointing economic data, the pound was still able to erase its loss against the scrilla with a 107-pip win when GBP/USD ended the week at 1.6003. More…

Japan

Yen trading was as mixed as a dynamite roll last Friday, as it posted gains versus the USD and com-dolls, but struggled against its European counterparts. USD/JPY fell 44 pips to close at 82.57, while EUR/JPY managed to gain 57 pips and finish at 112.57. More…

Canada

The Loonie was down… But it certainly isn’t out yet! After sliding the past few days, it staged a wonderful rally last Friday against the Greenback. With help from upbeat retail sales data, USD/CAD fell below parity once again and closed at .9956 after falling to an intraday low of .9909. More…

Australia

With no major news that came out, AUD/USD traded within a tight range of less than 80 pips last Friday. With the greenback falling across the board, the Aussie managed to edged slightly higher, closing at .9899, good for a 22 pip gain. More…

New Zealand

Just like its com-doll sibling aross the Tasman Sea, Kiwi trading was as chill as Pip Surfer whenever he hits the beach. NZD/USD traded within a range of 90 pips, ultimately closing at .7586, its opening price for the day. More…

Switzerland

Taking advantage of dollar weakness, the Swissy was able to recover some of its losses from the previous day, posting an 89 pip win versus the dollar to close at .9584. However, the franc bulls had no luck against the euro, as EUR/CHF edged 15 pips higher to end the week at 1.3048. More…