Daily Economic Roundup – January 22, 2010

What’s on the Economic Horizon

CAD November Retail Sales Expected To Have Fallen By 0.3%
UK Retail Sales To Climb 1.3%
Euro Zone Industrial Orders Due Later

United States

Thanks to varied results on economic data, the USD traded in a mixed fashion yesterday. The USD managed to go higher against the GBP and the commodity dollars but failed to post significant gains against the EUR, CHF and JPY. More…

Euro zone

The euro sustained another big loss yesterday against the yen. The EURJPY pair fell and settled at 127.42 after reaching a high of 129.49. More…

United Kingdom

As the UK budget deficit hit a record high, the pound got hammered by both the greenback and the Yen during yesterday’s trading match. The cable broke through a key support level and fell to a low of 1.6125 while the guppy tumbled to 145.45. More…

Japan

The Yen reigned supreme yesterday as it rallied against its major counterparts. Risk aversion, arising from China’s intention to tighten their monetary policy, boosted the safe-haven currencies. With the US likely to follow in China’s footsteps, the Yen emerged as the stronger performing safe-haven currency. More…

Canada

The Loonie trickled lower as risk aversion reigned in the markets. The USDCAD closed at 1.0517, its highest level in about a month. More…

Australia

The Aussie bounced back and forth during the earlier matches, but found itself smashed up as the markets rallied behind the safe havens. The AUDUSD closed at 0.9022 after hitting a high of 0.9147 during the day. More…

New Zealand

The Kiwi continued to slide versus the dollar and the yen during yesterday’s market exchange. The NZDUSD fell and closed at 0.7120 from an opening of 0.7198. The NZDJPY also decline to 64.36 from 65.66. More…

Switzerland

Supported by positive economic data, the USDCHF was able to hold its ground in yesterday’s trading session. The pair opened the Asian trading session at 1.0440 and close the US session slightly lower at 1.0422. More…