Daily Economic Roundup – November 8, 2010

What’s on the Economic Horizon
Australian Job Ads Up by 0.6% in October
Canadian Oct Housing Starts to Dip
German Industrial Production Up by 0.6%?
Two FOMC Members Set to Testify Today

United States

Is it just me or was the dollar the king of the hill last Friday? The greenback was able to shape up against its major counterparts last Friday after the non-farm employment report blew the market estimates out of the field. EUR/USD plunged by 173 pips to 1.4033; USD/JPY rocketed by 52 pips at 81.26; and Cable dropped by 83 pips at 1.6185. Talk about coming back with a vengeance! More…

Euro Zone

Just like Robert Downey Jr.’s comedy flick “Due Date,” the euro was overshadowed by almost all of its counterparts in Friday’s trading. The shared currency lost the most against the dollar with 174 pips as it closed at 1.4032, then the Swissy with 122 pips as EUR/CHF ended at 1.3491, and then the yen with 68 pips as EUR/JPY parked at 114.02 at the end of the week. More…

United Kingdom

Not so fast, pound! GBP may have reached a new high against the USD last week but it was forced to return some of its gains on Friday as the U.S. churned out better than expected employment data. Because of that, GBP/USD dropped from a high of 1.6295 and closed at 1.6185. More…

Japan

The Japanese yen was a big loser last Friday as the U.S. dollar, Australian dollar, and British pound ganged up and beat it up. The only currency that was worse off was the euro since EUR/JPY slid from its 114.70 open price to close at 114.02. More…

Canada

“Greenback’s got nothing on you Loonie,” sang traders as USD/CAD ended Friday 20 pips lower at 1.0002 despite the mixed employment figures from Canada. At the end of the week, the com-doll bagged a total of 187 pips against its counterparts. Boo yeah! More…

Australia

Whew, that was a close one! The Aussie managed to inch higher against the greenback last Friday on the bullish report from the Land Down Under despite an upside surprise in the U.S. non-farm employment report. AUD/USD enjoyed all of its 3-pip gain at 1.0152 after hitting an intraday low of 1.0085. More…

New Zealand

Oh Kiwi, you’re so fine you blow my mind! The com-doll ended the week on a good note with a 10-pip win against the Greenback at .7955, despite hitting rock-bottom at .7884 early on Friday’s trading. Doing the math, the Kiwi stacked up a total of 296 pips for the week against its counterpart. Whoa! More…

Switzerland

The franc’s price action against its major counterparts was a hodgepodge last Friday despite the lack of reports in Switzerland. EUR/CHF leveled off to a 115-pip loss after sliding to an intraday low of 1.3440, but USD/CHF rose by 38 pips at .9621. What gives? More…