Daily Economic Roundup – January 13, 2010

What’s on the Economic Horizon
Beige Book Release Today
New Zealand Building Approvals Due Tonight
German GDP Expected to Show Contraction

United States

Despite the dollar’s relative strength versus higher yielding currencies, the dollar dropped tremendously versus the yen. Could this be a signal of risk aversion creeping back into the markets? More…

Euro zone

Euro trading was directionless yesterday, as the currency just bounced around its session highs and lows. The EURUSD opened the Asian session at 1.4489 and found itself merely 30 pips lower at the end of the US trading session. It seems that the lack of economic data from euro zone kept volatility contained. More…

United Kingdom

The pound almost had a perfect day yesterday with a win against most of the other currency players except the yen. The cable closed at 1.6167 from 1.6107. The guppy (GBPJPY), on the other hand, fell and settled at 147.07 from 148.34. More…

Japan

The yen soared across the board yesterday as China tightened again its banking policies. The Aussie suffered its worse daily loss in more than a month as the AUDJPY fell and closed at 83.69 from an opening of 85.79. More…

Canada

Weighed down by falling commodity prices, the loonie succumbed to the greenback, causing the USDCAD to reach a high of 1.0403 during the US session. Canada’s worse than expected trade balance didn’t help the loonie’s cause. More…

Australia

The Aussie fell down under yesterday as commodity prices dipped. Adding to the selling pressure for the Aussie was the disappointing Australian home loans report, which pushed the AUDUSD to a low of 0.9206. More…

New Zealand

Just like its fellow commodity-based currencies, the Kiwi fell down a couple of notches in yesterday’s trading session. The Kiwi, after hitting an intraday high of 0.7437 dropped to a low of 0.7366 before ending the US session at 0.7387. More…

Switzerland

The Swissy gave up some of its gains versus the dollar yesterday but still managed to stay within range. The pair rose slightly to close the day at 1.0184, just 35 pips higher than its opening price. More…