Daily Economic Roundup – December 15, 2009

What’s on the Economic Horizon

US Producer Prices Could Climb 0.8%
Cable To Retest 1.6340 on Positive CPI Data?
ZEW Economic Surveys to Show Continued Optimism

United States

In the absence of top-tier economic reports, the USD snapped back to quiet trading mode yesterday. Price action calmed down as news of Abu Dhabi’s $10 billion support for Dubai World put a halt to the USD buying frenzy. More…

Euro zone

It was a calm day at sea yesterday, as the lack of any economic storms kept trading volatility at a minimum. The EURUSD pair traded within a tight range of less than 90 pips, leaving the pair to close just slightly higher at 1.4653. More…

Japan

The yen traded in a mixed manner other currencies yesterday. It gained initially when the Japan’s tankan manufacturing index came in better than expected but some of the yen longs eventually unwound as the European and US session rolled along. More…

United Kingdom

Despite some up and down movement, the Cable pretty much remained inside its trading range yesterday. It closed the US session at 1.6307, just 60 higher pips from its Asian opening price. More…

Canada

Trading was a bit boring for the Loonie yesterday as it just traded within a 95-pip range versus the dollar. The USDCAD opened at 1.0607 but closed slightly lower at 1.0593. More…

Australia

Price action for the AUDUSD was a little flat as well yesterday. The pair, though, managed to sport some gains. The AUDUSD closed at 0.9168 from 0.9110. More…

New Zealand

Kiwi trading was as quiet as a herd of sheep, as we barely saw any movement in the markets. The NZDUSD pair closed 35 pips higher, to finish the day at 0.7278. More…

Switzerland

Whew! The Swissy was able to cap its losses yesterday as the price action cooled down for a bit. The USDCHF managed to keep its head under the 1.0350 level amidst the lack of top tier economic reports from the US. More…