Daily Economic Roundup – January 19, 2010

What’s on the Economic Horizon
US TIC Long Term Purchases Increased in December
German ZEW Survey Expected to Mark Fourth Monthly Decline
UK CPI to Leap from 1.9% to 2.6%

United States

Pretty quiet day in the markets as the US markets were off on holiday. Most pairs stayed within range although the dollar did fall slightly across the board. Could this be a sign of more USD- selling to come? More…

Euro zone

After losing terribly last Friday, the EURUSD managed to bounce back and erase some of its losses in yesterday’s trading session. Still, the upward move was less than convincing and could only serve as another chance for EURUSD bears to sell the pair at a more expensive price. More…

United Kingdom

The pound erased its Friday losses against the dollar yesterday despite the lack of economic flows in the UK and the US. The Cable went to as high as 1.6379 before closing at 1.6338. More…

Japan

After staging a major rally to conclude last week’s trading, the yen corrected and lost some of its Friday gains versus most of the other majors yesterday. For today, the yen’s price movement maybe dictated by the major economic releases in the UK, Canada, and New Zealand. Both the UK and New Zealand will publish their latest inflation tallies while the BOC is slated to decide on its overnight bank interest rate. More…

Canada

After going through a setback last Friday, the loonie struggled to make headway and take advantage of greenback weakness yesterday. Today, traders have their eyes set on the BOC rate statement, which could be the main driver of USDCAD price action for the rest of the week. More…

Australia

The Aussie got back in stride yesterday, rising to a high of 0.9280 against the greenback. With most US traders and bankers off in commemoration of Martin Luther King day, the US dollar weakened against most major currencies. More…

New Zealand

The NZDUSD proved to be one of the better performers yesterday. From its weekly open of .7339, the pair climbed steadily all through the day, topping out at .7400. The rally looks like it could go further, but please do watch out the previous week high at .7442 as this is a major area of interest. More…

Switzerland

The franc started the week off right, as it gained back some of its recent losses despite the slow trading yesterday. The USDCHF pair closed lower at 1.0252. More…