Daily Economic Roundup – January 25, 2010

What’s on the Economic Horizon
RBNZ Expected To Keep Rates Steady on Wednesday
German Ifo business Climate to Improve to 95.2
UK’s 4Q GDP Probably Expanded by 0.4%

United States

Last week was great for the dollar, as it pummeled its way across the board. Is risk aversion here to stay? Or will the dollar give back its gains? More…

Euro zone

The lack of economic data from euro zone last Friday kept the euro range bound against most major currencies yesterday. There was a slight bias on buying though, as the bears took profit from the euro’s recent drop in value. More…

United Kingdom

For the third straight time, the pound sunk versus the dollar and yen in last Friday’s trading. The cable (GBPUSD) fell to a low of 1.6078 before closing at 1.6114. The guppy (GBPJPY) likewise slid down and settled at 144.82 from an opening of 146.43. More…

Japan

Investors last Friday sold on news despite the better-than-expected earnings reports of several high profile US firms like Google, AMD, Capital One Financial, Amex, GE, and McDonald’s. The US capitals markets fell to its worst single-session loss, benefiting the ‘safer’ currencies like the dollar and yen. More…

Canada

The loonie proved to be no match for the greenback’s strength last Friday after it saw Canada’s disheartening retail sales report. Core retail sales remained flat in November while retail sales dipped by 0.3%. More…

Australia

After enduring an entire week of losses, the Aussie had a bumpy ride last Friday as it moved up and down against the greenback. Well, at least the AUDUSD kept its head safely above the psychological 0.9000 handle! I wonder whether it’ll stay afloat this week. More…

New Zealand

Thanks to the absence of any major economic data, the Kiwi was able catch its breath last Friday. The Kiwi was hardly changed, closing the week at 0.7106, just a few pips lower from its Asian open price that day of 0.7120. More…

Switzerland

Tight trading on the USDCHF last Friday, with the Swissy somehow staying slightly ahead. The pair stayed within range and closed the week at 1.0415. Will Swissy bulls strike back and go on a run this week? More…