Daily Economic Roundup – December 7, 2009

What’s on the Economic Horizon

Equity-Dollar Inverse Correlation Break – Fluke?
Japan’s Current Account Surplus Could Widen to 1.59T
Swiss Retail Sales to Rise 1.2%
RBNZ to Leave Interest Rate at Present Level
Canadian Building Permits To Rise Slightly

United States

Volatility shifted into high gear last Friday as the dollar managed to stage a stellar rally on account of an exceptionally better-than-expected NFP report. More…

Euro zone

It was like the year 2012 for the EUR last Friday when it collapsed against the USD. The fiber made a free-fall down to 1.4821 from a high of 1.5091. With that, its long term uptrend line, which started back in March this year, has now been broken. More…

United Kingdom

The cable plunged by more than 150 pips during last week’s NFP aftermath as the US churned out surprisingly strong employment data. In contrast, the GBPJPY surged from the 146.00 area to a high of 149.08. More…

Japan

The Yen bowed down to its safe-haven rival, the greenback, as the unexpectedly strong NFP report renewed demand for the US dollar. The USDJPY surged to the 90.00 area after the Fed gave the US dollar the carry trade advantage over the Yen. More…

Canada

It looked like the CAD was going to be heading for new highs once news broke out that a lot more jobs were added to the economy, but the Loonie lost its bearing once traders suddenly bought up the USD after the NFP report was released! In the end, the USDCAD pair finished higher, to closing near its weekly opening price at 1.0581. More…

Australia

The Aussie dollar got swept away by wave upon wave of USD buying that occurred on Friday. Traders brought the AUDUSD down to close much lower at 0.9144, a drop of over 100 pips. More…

New Zealand

The Kiwi was caught off guard with the dollar’s blitz last Friday. The NZDUSD pair fell to a low of 0.7134 from an opening of 0.7234 before closing at 0.7156. More…

Switzerland

The Swissy was injured badly last Friday when better-than-expected results from the US NFP report printed. The Swissy, after hanging out around parity for a few days, slipped back to 1.0188, the highest price level from the week before. More…