Daily Economic Roundup – January 18, 2010

What’s on the Economic Horizon

BOE Minutes Due This Week
November Retail Sales Probably Grew 0.6%
Busy Week Ahead of the US

United States

Risk aversion, brought on by weaker-than-expected data, was able to keep the dollar well-bid last Friday. It seems that currency traders prefer the dollar as the fundamentals of major economies aren’t looking too pretty at this point in time. More…

Euro zone

The euro slid against the dollar due to concerns regarding Greece’s ballooning budget deficit. The EURUSD finally broke below the 1.4450 handle and settled at 1.4380 to end the week. More…

United Kingdom

Risk aversion forced the GBPUSD to hit the brakes on its recent rally. After climbing to a weekly high of 1.6355, the GBPUSD tumbled close to the 1.6200 handle last Friday. This week promises to be a volatile one for the pound pairs as the UK unloads a bunch of high-impact economic reports. More…

Japan

Zoom! The JPY shifted to high gear as risk aversion returned and fueled a safe-haven rally. Although Japan did not release any economic reports last Friday, the JPY strengthened against all of its counterparts before the week came to a close. More…

Canada

The Canadian dollar slipped on Friday as oil prices fell while the USD showed some might across the board. The USDCAD ended the week even, closing at 1.0296. More…

Australia

The Aussie got wiped out in Friday’s trading session, as a wave of risk aversion seems to have hit the market. The strong tide seems to have swept away the optimism that had been driving higher yielding currencies higher the past couple of weeks. Could the Aussie be in line for more losses this week? More…

New Zealand

The Kiwi managed to lose all of its Thursday gains over the dollar due to a lack of positive economic catalyst in New Zealand and the US last Friday. The NZDUSD fell and closed at 0.7383 from 0.7426. More…

Switzerland

The Swissy took a huge hit last when a wave of risk aversion hit the markets last Friday. The USDCHF was trading at 1.0188 when the Asian trading session began and was bought up to 1.0267 when the foreign exchange markets closed for the weekend. More…