Daily Economic Roundup – December 28, 2009

What’s on the Economic Horizon
German Prelim CPI to Improve in December
Australia’s Private Sector Credit Expected to Rise
UK Nationwide HPI Due Thursday

United States

Last week, saw a retracement in the recent USD move, as the dollar lost out on Wednesday and Thursday. After hitting as low as 1.4220, the EURUSD pair jumped right back to test the 1.4400 handle before some good data from the US gave the dollar some support. The pair ultimately ended the week at 1.4357. More…

Euro zone

Last week proved to be a good one for the euro, as it was able to retrace some of its losses before traders headed out for the holidays. It closed the week at 1.4352, up from its open at 1.4300. More…

United Kingdom

It was not a merry Christmas for the pound bulls last week as they just got slaughtered by the greenback. The pound fell to a new 10-week low versus the dollar at 1.5921 before closing slightly higher at 1.5947. More…

Japan

The yen was not able to keep up with the dollar in last week’s pre-Christmas trading. Instead, it closed mixed against the other currency big boys. More…

Canada

The loonie toned down its rally against the greenback towards the end of last week but stayed safely below the 1.0500 handle. Canada did not release any economic reports then, leaving the loonie at the mercy of commodity prices. More…

Australia

Staging a comeback during the Christmas holidays, the Aussie capped its losses against the greenback and rallied towards the 0.8850 area last week. No economic reports were released from Australia then but the rebound in commodity prices may have provided a boost for the Aussie. More…

New Zealand

Hah, it looks like the 0.7000 remained intact last week, much to the delight of Kiwi bulls. The buying support received by the dying Kiwi was all thanks to the small rebound in oil and gold prices. More…

Switzerland

The Swissy took advantage of the dollar, which got drunk after having a glass of bad new home sales data. The USDCHF broke out a recent ascending channel to close at 1.0389. More…