Daily Economic Roundup – January 7, 2011

What’s on the Economic Horizon
German Retail Sales to Disappoint Too?
U.S. Payrolls Up by 159K in Dec
Canada’s Unemployment Rate Due Today

United States

Is the dollar’s rally losing steam? The Greenback managed to post gains against its major counterparts for the third day in a row yesterday. Although it still gained 140 pips on the euro and 37 pips against the pound, it only inched up by 6 pips against the yen and even lost 8 pips to the franc. More…

Euro Zone

The euro kept tumbling down yesterday as debt funding problems continued to haunt the euro zone. Because of that, EUR/USD hit a low of 1.2997 after opening at 1.3156 while EUR/JPY also crashed more than a hundred pips from its open price of 109.52. More…

United Kingdom

Finally, a bit of consistency! After over a week of being in a virtual stalemate with pound bulls, bears were finally able to string together back-to-back results. With a disappointing services PMI backing their cause, they were able to drag GBP/USD down from its intraday high of 1.5564 to 1.5475 at the end of the day. More…

Japan

After strutting its stuff on Wednesday, the yen bear camp decided it was time to take a chill pill as it put a halt to the sharp yen selloff. With no Japanese data to fuel the markets, USD/JPY stayed in a tight range and finished practically unchanged at 83.32. More…

Canada

Gah! The Loonie bears finally won the pip-tug-o-war yesterday when USD/CAD closed with a 6-pip win. The pair dropped to an intraday low of .9925 before it capped the day at .9969. More…

Australia

No shrimps on the barbie for the Aussie bulls last night… The Aussie posted its fourth straight drop yesterday! With no support from commodities and economic reports, AUD/USD continued its fall as it dropped 58 pips to end below parity. More…

New Zealand

Phew! The Kiwi put up a good fight yesterday as it managed to refrain from incurring more losses against the Greenback. NZD/USD ranged between the .7550 to .7600 area for almost the entire day. More…

Switzerland

Brace yourselves, brothas, here comes another one! The franc ended its losing streak against the dollar and the euro yesterday despite printing a cooler-than-expected CPI report. USD/CHF capped the day with an 8-pip loss, while EUR/CHF plunged by 145 pips to 1.2551. More…

2 comments

  1. dyl72

    Hi pipnoculars
    i go through your report on a daily basis and
    have been doing so far the past year or two, this
    morning i noticed thaton my systam i have a open for the usd/jpy of 82.040 and a close of 83.177 this is a dollar gain of at least 130 pips?you stated it was only 6 pips?i’m just surious to how you got your figure?
    dylan

    Reply
  2. dyl72

    Hi pipnoculars
    i go through your report on a daily basis and
    have been doing so far the past year or two, this
    morning i noticed thaton my systam i have a open for the usd/jpy of 82.040 and a close of 83.177 this is a dollar gain of at least 130 pips?you stated it was only 6 pips?i’m just surious to how you got your figure?
    dylan

    Reply

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