Daily Economic Roundup – December 2, 2009

What’s on the Economic Horizon
ADP Net Job Losses to Fall to 153,000
UK Construction PMI Probably Rose in November
Euro Zone Producer Prices to Rise?

United States

Looks like investors and traders are over the Dubai scares, as risk was definitely in play yesterday. The USD fell against most other majors, with the EURUSD pair hitting as high 1.5100 and the CHF hitting parity against the dollar once again. More…

Euro zone

Fueled by upbeat economic figures from Germany, the EURUSD charged towards its yearly highs. Risk tolerance, spurred by strong US economic reports, boosted the EURUSD to the 1.5100 level. More…

United Kingdom

The pound avenged its previous losses against the greenback and the yen with a strong rally yesterday. The cable closed at 1.6620 from an opening of 1.6451. Also, the guppy ended higher at 144.06 from an opening of 142.19. More…

Japan

The yen surrendered some of its losses in yesterday’s trading session against most of its currency counterparts. The EURJPY, for instance, bounced from a 130.00, which is a key support, to close at 130.77. More…

Canada

The USDCAD was off on a slow start yesterday as it consolidated during the Asian and European sessions. Upon the release of US economic reports during the US session, the CAD was able to make a run for it. Gold prices, which soared to new highs, provided further strength for the CAD. More…

Australia

RBA goes for the three-peat! The Australian central bank hiked rates for the third consecutive time, carrying its benchmark rate to 3.75% this December. You’d think that the AUD would shoot up after the rate statement… but it didn’t! More…

New Zealand

Risk hungry traders took the Kiwi along with them yesterday, allowing the NZD to make some nice gains versus the dollar. The NZDUSD pair finished higher 0.7267, a gain of over 100 pips. More…

Switzerland

Break out the wine and cheese – Switzerland is finally no longer in a recession! A report showed that the Swiss economy grew by 0.3% in the third quarter. This helped boost risk sentiment, which allowed the CHF to hit parity against the dollar once again. More…