Daily Economic Roundup – December 4, 2009

What’s on the Economic Horizon

Volatility Ahead: NFP Report on Tap
Swiss CPI m/m expected to show 0.1% rise
Positive Number Seen in Canadian Employment report

United States

After a disappointing start, the dollar made a strong push during the last part of yesterday’s session to end the day mixed. The dollar index closed with a 0.1% advance. More…

Euro zone

Rally then reverse! The EURUSD surged to a high of 1.5140 as the ECB upgraded their growth forecasts and announced that they will scale back their monetary stimulus programs. The pair was unable to hold on to its gains as risk aversion made a last-minute comeback during the US session. More…

United Kingdom

Cable was fuzzy yesterday, and traders decided go outside and play with their dollars instead. The GBPUSD pair fell over 150 pips in intraday trading, to close the day at 1.6561. More…

Japan

The yen got sliced up like a California roll in yesterdays trading session. Yen crosses continued to soar, as the EURJPY and GBPJPY closed higher at 132.98 and 146.09 respectively. More…

Canada

It was a loony day for the CAD yesterday as it turned over some more ground back to the dollar. The 1.0500 support held, pushing the USDCAD to close higher at 1.0550. More…

Australia

The Aussie started the day on the rise as traders anticipate an increase in Australia’s retail sales. It was even able to reach its monthly high against the dollar at 0.9323. But it was all downfall from there with the AUDUSD closing back to where it opened – 0.9257. More…

New Zealand

The Kiwi was caged between resistance at 0.7290 and support at 0.7215 yesterday as New Zealand had an empty economic schedule. As risk aversion dominated after the release of the US ISM non-manufacturing PMI, the NZDUSD pair was unable to make significant headway. More…

Switzerland

The Swissy still managed to lock in some profits over the dollar despite the tentativeness in the US capitals markets. The USDCHF magically closed exactly at parity (1.0000) after falling to as low as 0.9961. More…