Daily Economic Roundup – January 27, 2011

What’s on the Economic Horizon

U.S. Durable Goods, Initial Jobless Claims, and Pending Home Sales Due Today
Household Spending in Japan to Fall 0.5%
German CPI on Deck

United States

Mixed results on mixed feedback! Both dollar bulls and bears had something to feed off of as positive home sales data and a dovish FOMC statement resulted in different results for the dollar pairs. While the dollar gained against the yen and Swissy, it declined versus the pound and euro, sending EUR/USD to a new high at 1.3723 before it closed at 1.3690 for an 8-pip rise. More…

Euro zone

Action on EUR/USD in yesterday’s trading was as tight as Katy Perry’s jeans. The pair just seesawed up and down the 1.3700 handle, ending the day only 8 pips higher at 1.3695 from its opening price. Uh oh, is the euro’s rally coming to an end? More…

United Kingdom

Britney Spears can learn a thing or two from the pound on how to make a comeback! The currency erased half of its losses against the dollar yesterday, bouncing off from an intraday low of 1.5770 and surging to its closing price of 1.5899. More…

Japan

The yen has nothing to be ashamed of with its performance yesterday. It held on tight and gave up a good fight against its American and European counterparts, but it just couldn’t help but slip a little bit! After a hard-fought battle, USD/JPY ticked 5 pips higher and closed at 82.30 while EUR/JPY rose 8 pips and landed at 112.66. More…

Canada

Choppy, choppy, choppy! Despite ending the day slightly lower, USD/CAD traded in a very indecisive manner yesterday, bouncing around its session highs and lows. The pair closed the U.S. trading session at .9952, merely 26 pips lower from its Asian session opening price. More…

Australia

Who says you need big waves to surf? Despite the lack of economic data, the Aussie was able to hang ten yesterday. It bested its major counterparts, forcing AUD/USD to finish 13 pips higher at .9979, and AUD/JPY 14 pips up to close at 82.12. More…

New Zealand

Despite the RBNZ’s decision to leave interest rates unchanged, the Kiwi was still able to end the day with a 31-pip win. NZD/USD skyrocketed just before the New York session came to a close from an intraday low of .7645 to close at .7708. More…

Switzerland

The lack of market-moving data kept USD/CHF inside a tight 50-pip range yesterday. The pair closed the day at .9433, just 10 pips higher from its opening price. The result was a nice little indecisive “doji” candle on the daily chart. More…