Daily Economic Roundup – November 12, 2010

What’s on the Economic Horizon

German and French GDP Figures on Tap
U.S. Consumer Sentiment To Improve?
G20 Meetings Ongoing

United States

There’s just no stopping the dollar’s bull run! While American traders were chilling on the sidelines in celebration of Veterans Day, the dollar was busy hustlin’ to gain some pips. Once again, it easily imposed its will against its counterparts, sending EUR/USD 120 pips lower to 1.3659 and USD/JPY 18 pips higher to 82.50. More…

Euro zone

Just like Gilbert Arenas, traders were scared of getting booed by buying the euro amid talks of sovereign debt. As a consequence, Fiber ended the day 120 pips lower against the dollar at 1.3759. Against the pound, it fell to its 2-month low at .8456 before closing at .8477 with a 72-pip loss. More…

United Kingdom

And just like that, kaboom! The pound posted its sixth consecutive win against the euro, ending yesterday’s trading at .8477 with a 72-pip gain. Boo yeah! It also gave up the least pips to the dollar among the major currencies as GBP/USD closed only 6 pips lower at 1.6112. More…

Japan

Don’t worry if you weren’t able to trade USD/JPY yesterday. You didn’t miss out on much. Action on the pair was flat for the most part, probably because neither Japan nor the U.S. released economic data. Still, when all was said and done, the yen emerged weaker for the day as USD/JPY rose 18 pips to land at 82.50. More…

Canada

The Canadian dollar traded slightly higher yesterday, falling victim to a strengthening dollar. Still, the pair has remained within range, as it has yet to breach through the 1.0100 handle and closed just 32 pips higher to finish trading at 1.0032 yesterday. Is it only a matter of time before this pair busts out? More…

Australia

Risk appetite, where have you gone?! Waning risk appetite once again took its toll on the Aussie and the rest of the comdolls. AUD/USD slid 78 pips to finish below parity at .9984 while AUD/JPY ended 46 pips lower at 82.37. More…

New Zealand

The Kiwi parked its hiney on the losers’ bench yesterday along with its com-doll homies. Thanks to risk aversion, NZD/USD tumbled to .7773 after peaking at .7874. At the end of the day, the pair settled at .7809 with the Kiwi nursing a 37-pip loss. More…

Switzerland

Mixed trading for the franc yesterday, as it lost against the dollar for the 5th consecutive day, but managed to push slightly higher versus the euro. USD/CHF rose 41 pips from its opening price to end at .9753, while EUR/CHF closed 61 pips lower to finish at 1.3321. More…