Daily Economic Roundup – January 15, 2010

What’s on the Economic Horizon

US Inflation to Stay Moderated?
Switzerland’s PPI to Show Improvement
Euro zone Inflation y/y To Rise 0.9%?

United States

Oh no, not another disappointing economic report! After suffering a major letdown from the NFP report last week, the USD hit by another upsetting economic figure, the retail sales reading for December. Apparently, US consumers didn’t splurge during the holidays. More…

Euro zone

Despite euro zone’s stronger than expected industrial production reading, the EUR weakened against the USD yesterday. It seems like the EUR was upset about the ECB’s rate decision, causing the EURUSD pair to fall to a low of 1.4447. More…

United Kingdom

The pound trickled higher against the dollar yesterday, after trading within a tight range of just 70 pips. With the GBPUSD reaching one month highs, could this be a sign that the sterling’s recent run could be coming to an end? More…

Japan

After it looked like the yen was going to come up last in the currency races yesterday, other majors tripped up on some bad economic news, allowing the yen to catch up and finish a winner. The USDJPY went as high as 92.05 before dropping midway through the US session to close at 91.10. More…

Canada

Taking advantage of rising commodity prices, the USDCAD managed to burst through its yearly low at 1.0250 yesterday. The USDCAD’s losses were further exacerbated when poor results from the US retail sales report came out. More…

Australia

Thanks to the stellar results on Australia’s employment situation report, the Aussie managed to stage a magnificent rally and test this year’s highs yesterday. The Aussie found itself at .9312 by the end of the US trading session, 70 pips higher from its Asian open price. More…

New Zealand

The Kiwi stayed range-bound against the greenback, trading between 0.7400 and 0.7445. Although no economic reports were released from New Zealand, the NZDUSD managed to show some strength, along with its com-doll buddies. More…

Switzerland

The lack of economic data from Switzerland kept well within its trading range again yesterday. The Swissy hardly posted any gains or losses, ending the US trading session at 1.0187, just three pips away from its Asian open price of 1.0184. More…