Daily Economic Roundup – January 26, 2010

What’s on the Economic Horizon

US: Senate Votes on Bernanke’s 2nd Term Today
Expect Fireworks: UK’s Preliminary GDP Report Due Later
German Ifo Survey – Business Sentiment Up in December?

United States

USD price action wasn’t so turbulent yesterday since the economic calendar was free from high-impact reports. Most USD pairs consolidated throughout the day as though revving up for big moves, except for the GBPUSD which rose ahead of the UK GDP report. More…

Euro zone

Yawnnnn… Pretty boring day in the markets,as there just weren’t any catalysts to cause a major move in the market. The EURUSD pair stayed within a tight range of 67 pips and closed at 1.4154. More…

Japan

With the exception of the GBPJPY, the yen pairs were unable to pick a direction in yesterday’s trading session. It seems that currency traders chose to remain on the sidelines as they await the BOJ’s interest rate decision today. More…

United Kingdom

“Not me!” said the pound yesterday. Despite the clean economic calendar and the consolidation of other major currencies, the pound was able to post some nice gains over the dollar and yen in yesterday’s trading session. More…

Canada

The USDCAD just traded between a very tight 50-pip range yesterday given the lack of economic flows in Canada and the US. The pair opened at 1.0583 and settled slightly lower at 1.0580. More…

Australia

The Aussie hit an ace during its first serve against the greenback and the yen as both the AUDUSD and the AUDJPY gapped up when the Asian session opened. For the remaining of the game, however, the Aussie only managed to secure a close win over its two opponents. More…

New Zealand

The Kiwi held its ground in yesterday’s slow trading session as the NZDUSD pair finished trading slightly higher at 0.7143. Looks like traders are gearing up for the big news coming up over the next few days… More…

Switzerland

Consolidation was the name of the game for the USDCHF tandem yesterday as the markets await the high-impact economic events for this week. Although the USDCHF pair dipped to a low of 1.0370, it struggled to stay on top of the 1.0400 handle. More…