Daily Economic Roundup – January 11, 2010

What’s on the Economic Horizon

US Retail Sales Probably Rose 0.4% in December

ECB Rate Decision Due This Week
Canadian Housing Starts, Building Permits and Business Outlook Survey Today
New Zealand Business Confidence to Improve
Swiss Retails Sales Expected to Have Grown 1.9%

United States

Volatility was sky high for the greenback last Friday with the release of the US NFP report. US non-farm employment change came in worse-than-expected at -85,000 versus the -3,000 estimate. The market initially sold off the dollar only to buy it up soon afterward. More…

Euro zone

The EUR beat down the USD as last Friday’s non-farm payrolls report came in weaker than expected. Despite Germany’s weak industrial production figure and the rise in euro zone’s unemployment rate, the EURUSD managed to surge to a high of 1.4440 during the US session. More…

United Kingdom

The pound regained some of its form against the dollar, as it got some help from the poor NFP results on Friday. Gains were minimal however, as the greenback was resilient. The GBPUSD pair eventually closed at 1.0628 after hitting as high as 1.6111. More…

Japan

Heeyahh! The yen took advantage of USD in Friday’s trading session and karate chopped its way to make some headway. After two days of losses, the yen recovered, allowing the USDJPY to close lower at 92.61. More…

Canada

Despite ugly labor market data from Canada, the CAD managed to gain slightly against the USD. The USDCAD opened the Asian session at 1.0348 and eventually found itself at 1.0269 when the US trading session closed for the week. More…

Australia

Thanks to the ugly data from the US, the Aussie was able to get a leg up on the greenback last Friday. The Aussie traded sideways during the Asian session but instantly flew almost 100 pips when disappointing results from the US non-farm payrolls came out. More…

New Zealand

After a brief period of consolidation, the Kiwi broke higher against the greenback as the NFP report came in weaker than expected last Friday. No economic reports were released from New Zealand then and it looks like this week’s economic coast is almost clear once again. More…

Switzerland

The Swissy soared by about 150 pips following the release of the US NFP report. The USDCHF pair fell to a low of 1.0217 before closing slightly higher at 1.0233 in last Friday’s trading. More…