Daily Economic Roundup – January 29, 2010

What’s on the Economic Horizon
US Advanced GDP: Will It Meet Expectations?
Joblessness in EU to Hit 8.4%
Canada’s November GDP Due Today

United States

Looks like the USD have been going to the gym – look at it flex its muscles! The USD once again outlifted other majors to finish ahead. Will the Advance GDP report due tonight serve as an energy bar? More…

Euro zone

The euro suffered another round of losses as concerns on Greece’s debt problems resurfaced yesterday. Risk aversion came strong, pushing the euro and other major currencies lower against the dollar and yen. More…

United Kingdom

The pound bears eventually got the ‘W’ over the bulls after a grueling tug-of-war kind of match in yesterday’s session. The GBPUSD fell and closed at 1.6129 after reaching a high of 1.6276. The GBPJPY showed a similar movement as it slid and settled at 144.96 from a high of 147.23. More…

Japan

The yen once again was the currency of choice in yesterday’s trading. It actually started weak as the markets rebounded from the Fed’s outlook upgrade. A bunch of disappoint economic data in the US, however, caused investors to flee back to its safety. More…

Canada

The loonie stood no fighting chance against the greenback yesterday as risk aversion pushed the USDCAD above the 1.0650 area. In the absence of economic reports from Canada, the loonie easily gave way to greenback strength. More…

Australia

Wipe out! The AUDUSD crashed below the 0.9000 handle yesterday as the greenback extended its gains. Commodity prices were virtually unchanged, providing no support for the Aussie and its com-doll buddies. Plus, a wave of risk aversion left the com-dolls helpless against the safe-haven currencies. More…

New Zealand

Just when you thought the Kiwi was going to make a nice rally, risk aversion came swinging, pushing the currency right back to support at the 0.7030 region. More…

Switzerland

Tough day for the Swissy, as it lost out against the USD for the 4th time this week. Will the USDCHF complete a sweep and close higher once again today? More…