Daily Economic Roundup – January 26, 2011

What’s on the Economic Horizon

FOMC Interest Rate Decision in Focus
MPC Meeting Minutes Due Today
Japan’s Trade Balance Seen with a 530B JPY Surplus

United States

Whoa, it was one crazy day for the dollar yesterday, as it moved differently across the board. While the dollar did manage to gain more than 200 pips over the pound, it edged lower against most of the other major currencies like the euro and the yen. More…

Euro zone

Action on EUR/USD was as intense as my Kangoo workout during yesterday’s trading. After tumbling to 1.3573, the pair rallied to its 2-month high at 1.3704. Too bad the bulls didn’t have enough energy left to close above the psychological handle. At the end of the day, EUR/USD had cooled down to 1.3682. More…

United Kingdom

Look down beloooooow!!! The markets roundhouse-kicked the pound all the way to the bottom of the charts yesterday when the U.K.’s GDP report surprisingly printed to the downside. Pound bears partied by 180 pips in GBP/USD at 1.5820; 185 pips in GBP/JPY at 130.13, and 120 pips in EUR/GBP. Yikes! More…

Japan

Hi-yah! After behaving in markets for the past couple of days, the yen went all ninja on its major counterparts yesterday. Upbeat economic reports from the BOJ and a bit of risk aversion in markets pushed USD/JPY 24 pips lower at 82.25 and GBP/JPY 185 pips down at 130.13. Boo yeah! More…

Canada

No thanks to worse-than-expected inflation figures, the Loonie ended another day in the bear lair again, losing 32 pips to the dollar. Boo! It only reached a high of .9912 before bears pounced on it and pushed USD/CAD above parity. At the day’s close, the pair had settled at .9977. More…

Australia

Not today, mate! Despite the bank holiday in Australia, the Aussie lost ground against the Greenback yesterday. Not-so-awesome Australian economic reports and risk aversion in markets plunged AUD/USD to an intraday low of .9890 before it capped the day 18 pips below its open price at .9967. More…

New Zealand

Dollar ain’t got nothing on you, Kiwi! After kickin’ it like Adidas at its opening price of .7635 during the European session, NZD/USD traded higher on the latter part of the day and closed at .7675. More…

Switzerland

The success of the first EFSF bond auction yesterday helped the Swissy gain over the Greenback yesterday. USD/CHF was trading at .9432 by the end of the U.S. trading session, more than 50 pips lower from its opening price. More…