Daily Economic Roundup – February 5, 2010

What’s on the Economic Horizon

January NFP to Print Positive Jobs Growth
UK’s PPI Input On The Cupboard
Canada’s Employment Report On Deck Later

United States

“Give them nothing! But take from them everything!” yelled the mighty Spartan-like greenback as it waged war against the higher-yielding currencies yesterday. After the bloodshed, the greenback ended higher against most majors, except for the unyielding Yen. More…

Euro Zone

The euro got the wind knocked out of it when risk aversion came swing in full force. The EURUSD dropped by more than 150 pips from its opening price to close at a 8 month low of 1.3741. More…

Japan

Risk aversion, oh how the yen loves it! Concerns on bulging budget deficits and debt problems in the euro zone revisited the markets yesterday, causing currency traders to pour back their funds into the safety of the yen. The yen staged stellar rallies against its western counterparts, particularly the euro and the pound. More…

United Kingdom

The Cable took a major hit in yesterday’s trading session when risk aversion came crashing down on the markets. From it’s Asian open price of 1.5896, the Cable tumbled down to a low of 1.5729 before finally closing the US session at 1.5752. More…

Canada

The Loonie was not able to escape the greenback’s broad-based onslaught in yesterday’s trading. The USDCAD rose to 1.0727 from 1.0624. More…

Australia

Nothing seems to be happening right for the Aussie as of late. It had another day of woes yesterday as it slid sharply against the yen and the greenback. The AUDJPY crashed to 76.89 from 80.33. The AUDUSD also dove to 0.8647 from 88.30. More…

New Zealand

The Kiwi bulls we’re put to sleep yesterday, as the NZDUSD was slaughtered throughout all trading sessions. The pair fell by 200 pips from its opening and is now trading at 0.6875. Is there no end in sight? More…

Switzerland

The Swissy crumbled like moldy Swiss cheese yesterday, with risk aversion pushing the greenback higher against most majors. Apparently, credit concerns in the euro zone were back to haunt the markets, causing investors to flee to the safe-haven currencies. More…