Daily Economic Roundup – January 5, 2011

What’s on the Economic Horizon
ADP Employment Report to Print Good Results?
Canadian Inflation Indicators Due
Euro Zone Industrial Orders to Rebound

United States

With positive data on its side, the dollar was a rocketeer in yesterday’s trading, winning against all of its major counterparts save for the pound. It gained the most against the Swissy when USD/CHF ended the day 145 pips higher at .9489. Meanwhile, EUR/USD fell from its intraday high of 1.3434 to close at 1.3298 with a 53-pip loss. More…

Euro Zone

The euro’s price action yesterday was as mixed as the spices on my momma’s pudding on mixed economic reports from the euro zone. EUR/USD closed 53 pips lower than its open price after hitting an intraday high of 1.3434. Meanwhile, EUR/CHF broke its falling trendline on the daily chart when it gained by 45 pips at 1.2618. More…

United Kingdom

Let’s give a round of applause to the old chap! After losing ground against its major counterparts at the beginning of the week, the pound bounced back up the charts on better-than-expected economic reports in the U.K. GBP/USD rocketed by 111 pips to 1.5584, while EUR/GBP dropped by 96 pips to .8533. Boo yeah! More…

Japan

The lack of economic reports made the yen vulnerable to the market’s mood swings in yesterday. It won against the comdolls and the euro but it was unable to nudge the dollar and the pound. USD/JPY was up 30 pips at 82.04 and GBP/JPY was 137 pips higher at 127.84 at the day’s close. More…

Canada

The Loonie wasn’t having such a good day yesterday as it lost ground to the Greenback. The fall in commodity prices, combined with the strong U.S. data, pushed USD/CAD to retest the psychological 1.0000 handle. Well, it looks like it held… for now. More…

Australia

After staying so fly like a G6 for a couple of weeks, the Aussie crash landed in the bear lair during yesterday’s trading. AUD/USD opened at 1.0168 and plunged all the way down to close at its 5-day low of 1.0053. Ouch! More…

New Zealand

No economic report was released from New Zealand yesterday, but that didn’t keep the Kiwi from getting any action! Too bad it was the bad kind of action. NZD/USD dropped all the way to its intraday low of .7641 before leveling off to a 63-pip loss at .7667. More…

Switzerland

Ouch! The Swissy was clobbered by the Greenback in yesterday’s trading, allowing USD/CHF to pull up from its dive. The pair opened at .9344, climbed to a high of .9518, before it closed at .9489. More…