Daily Economic Roundup – May 9, 2011

What’s on the Economic Horizon?
NFP rose to 244,000, US jobless rate climbs to 9.0%
ANZ job ads due today
Germany’s trade balance seen at 14.4 billion EUR

United States

What a grand finale for the Greenback! The dollar capped its week of gains with fireworks last Friday when a surprisingly better-than-expected NFP report boosted the scrilla in the charts. Though the dollar pared back some of its gains against the comdolls, USD/JPY rose by 44 pips to 80.56 while EUR/USD dropped by another 174 pips to 1.4353. Boo yeah! More…

Euro Zone

Ouch! EUR/USD took another nasty fall last Friday despite the strong results of the German industrial production report. EUR/JPY suffered the same fate as it dropped from a high of 117.59 to a low of 115.21. How low can the euro pairs go? More…

United Kingdom

Oh, that’s gotta hurt! The pound took another beating from the Greenback and the yen yesterday as risk aversion gripped the markets once again. GBP/USD dipped to a low of 1.6359 while GBP/JPY dropped by almost 200 pips from its 132.94 open price. More…

Japan

With no economic report released from the Land of the Rising Sun, the yen’s price action was as mixed as Happy Pip’s margaritas last Friday. Though EUR/JPY dropped by another 76 pips to 115.62, USD/JPY also climbed 44 pips to 80.56 and GBP/JPY gained 89 pips to 132.09. More…

Canada

Good news for Canada! Their jobs market did much better than expected in April, allowing USD/CAD to dip below the .9600 handle. However, the U.S. NFP erased some of the Loonie’s gains, leaving USD/CAD to close at .9671.More…

Australia

Aussie bulls unite! After days of dropping in the charts, AUD/USD finally caught a break and edged higher on Friday. The pair even hit an intraday high of 1.0803 before capping the week 140 pips above its open price at 1.0693. More…

New Zealand

Who says size matters?? In the same way that my boy Manny Pacquiao gave Shane Mosley a beating yesterday, the Kiwi put the hurt on its larger counterpart last Friday. The Kiwi demolished the Greenback as it posted an 84-pip rise, bringing NZD/USD above the .7900 handle once again. More…

Switzerland

Switzerland may have posted awesome employment data of its own, but the Swissy was no match to the U.S.’s NFP report! Its rally was short-lived as the NFP pushed USD/CHF up the charts to close 59 pips higher for the day. More…

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