Daily Economic Roundup – December 16, 2009

What’s on the Economic Horizon

Volatility Ahead – FOMC Interest Rate Today
French and German PMI on Tap
UK Unemployment Rate to increase to 7.9%?

United States

The US dollar fashioned another broad-based win over all the major currencies in yesterday’s forex action with the dollar index closing with a 0.7% gain. Expect volatility to ensue today because of the Fed’s interest rate decision. More…

Euro zone

Unable to survive a beating from the greenback, the euro got crushed to a low of 1.4505 yesterday. Debt concerns in the euro zone resurfaced as Austria joined the ranks of Greece, Spain, and Ireland in terms of fiscal problems. More…

United Kingdom

Looks like traders are indecisive about the pound, as the GBPUSD pair stayed within range for the 5th day in a row. The pair ultimately closed slightly lower at 1.6275. More…

Japan

The yen got pummelled yesterday, as it seems that traders are shifting their demand toward the dollar. This has helped the yen fall not only against the USD, but against the EUR and GBP as well. More…

Canada

Thanks to positive economic data, the Loonie manaed to remain resilient against the dollar in yesterday’s trading session. More…

Australia

The Aussie took a major hit yesterday, falling more than a hundred pips from its Asian open price. After hitting a high of 0.9174, the Aussie remained well-sold throughout the day, closing the US session at 0.9059. More…

New Zealand

Price movement of the NZDUSD pair was unsteady yesterday as the Kiwi struggled to hold its ground against the greenback. At the end of the day, the NZDUSD pair slid to a low of 0.7217 with more and more traders expecting a hawkish FOMC statement for today. More…

Switzerland

The dollar has been rising over the Swissy for the past couple of weeks. It continued to do so again in yesterday’s trading. The USDCHF went as high as 1.0430 before closing at 1.0321. More…