Daily Economic Roundup – January 7, 2010

What’s on the Economic Horizon
US Weekly Unemployment Claims on Tap
BOE to Keep Easing Policies Unchanged
German Retail Sales to Have Picked Up in Nov
Canadian Ivey PMI Due Today

United States

Yowza! After it looked like it was on pace for another day of wins, the dollar slipped and fell late in the US session. It appears that risk appetite remains strong, which explains why traders are looking for higher yielding currencies. More…

Euro zone

The EURUSD started off on shaky ground early during the Asian session yesterday but eventually found some footing when poor economic data from the US printed and dollar negative comments from the Fed came out. More…

United Kingdom

The pound was not able to capitalize on the relatively weak US dollar yesterday as the cable only managed to gain a skimpy 24 pips. The GBPUSD closed at 1.6020 from an opening of 1.5996. More…

Japan

Tuesday was stellar for the yen. It was, however, a different story altogether yesterday as it slipped against all the other major currencies. More…

Canada

The USDCAD slid closer to its 18-month low yesterday after oil price rallies provided support for the loonie. No economic reports were released from Canada yesterday but increased risk appetite allowed the loonie to continue its 5-day winning streak. More…

Australia

After consolidating for a bit, the AUDUSD zoomed up during the latter half of the US session after the release of the minutes of the latest FOMC meeting. The Aussie was also able to benefit from the surge in November building approvals and the commodity price rallies. More…

New Zealand

Thanks to the Fed’s meeting minutes and New Zealand’s better-than-expected trade, the Kiwi was able to post some gains in yesterday’s trading session. More…

Switzerland

Eraser was the movie of the day for the USDCHF, as the franc erased all its losses versus the USD in yesterdays trade fest. The pair looked poised for new highs, before a run of risk appetite pushed the pair lower to close at 1.0277. More…