Daily Economic Roundup – January 27, 2010

What’s on the Economic Horizon

Fed Interest Rate Decision Today
CBI Realized Sales Index to Edge Lower
RBNZ Expected To Keep Rates Steady… Again

United States

The dollar made a Jay Leno move and stole the ‘prime time’ in yesterday’s price action. The dollar was all over the television as it stormed back into the ratings versus all of the other major currencies minus the yen. More…

Euro zone

Strong economic data from the euro zone were unable to prop the EUR up against the USD and JPY. Anti-EUR comments from an ECB official pushed the EURUSD and EURJPY to lows of 1.4065 and 125.78 respectively. More…

United Kingdom

Oh boy, it looks like the Queen might lose some sleep for a couple of days after what happened yesterday! The pound dropped as it was hit by a run of risk aversion as well as some disappointing economic news. The GBPUSD pair dropped 96 pips to close at 1.6144. More…

Japan

Thanks to the risk aversion wave, the yen was able to pocket some nice gains against its western counterparts yesterday. More…

Canada

The absence any major economic data from Canada put the USDCAD at the heels of risk aversion yesterday. From its Asian open price of 1.0580, it managed to climb to a high of 1.0692 before giving up some of its gains and closing US trading session at 1.0625. More…

Australia

Demand for the Aussie fell yesterday when the news that China wants its some of its banks to increase their reserve ratio hit the markets. From the Aussie’s open price at 0.9049, it went as low as 0.8938 before finding some buying support. More…

New Zealand

The Kiwi fell victim to greenback strength yesterday as risk aversion made a comeback in the markets. Commodity prices fell sharply, pushing the NZDUSD below the 0.7100 handle. More…

Switzerland

The Swissy buckled against the dollar as fears that China’s growth will slow down mounted in the minds of investors. The USDCHF rose and closed at 1.0461 from an opening of 1.0398. More…