Daily Economic Roundup – November 15, 2010

What’s on the Economic Horizon

Euro zone Debt Concerns Resurfacing?
U.S. Retail Sales to Crawl Higher
NZ Retail Sales Rise by 1.6%

United States

Dollar bulls took a breather from their rally last Friday as investors finally decided to end the dollar’s long winning streak. Though economic data was on its side, it couldn’t help but slide against its major counterparts. EUR/USD managed to close 34 pips higher at 1.3693 while USD/JPY hit a low of 81.65 before finishing just 6 pips lower for the day at 82.44. More…

Euro zone

Bam! What a week for the euro! With growing concerns regarding an Irish bailout, the euro tumbled across the board. EUR/USD fell by just over 300 pips, while EUR/GBP dipped 200 pips from its highest point during the week. Is the euro in for more weakness? More…

United Kingdom

Whew! That was a close one! The pound managed to edge higher against its major counterparts last Friday even with the mixed economic reports from the U.K. GBP/USD dropped to an intraday low of 1.5968 before closing 24 pips higher at 1.6137. Meanwhile, EUR/GBP reached an intraday high of .8560 before ending the day at .8586. More…

Japan

Try again next time, ol’ buddy! Despite the lack of economic reports from Japan, the currency bears feasted on the yen last Friday and pushed the yen lower against its major counterparts. USD/JPY cut its losses to only 6 pips at 82.44 after plunging to its intraday low of 81.65, while EUR/JPY ended the day 20 pips higher at 112.88. More…

Canada

The Loonie fell victim to the dollar last Friday, as it traded 60 pips higher to end the week. Still, the pair was unable to close above key resistance at 1.0100. Will the pair bust through this week? Or will it remain with range? More…

Australia

Down goes the Aussie for another 76 pips against the Greenback! Continued risk aversion, together with commodity weakness, delivered heavy blows to the Aussie. At the end of the day, AUD/USD finished well below parity at .9867 while AUD/JPY slid down over 100 pips down to 81.34. More…

New Zealand

Ooomph! The Kiwi’s losses against the greenback last Friday was nearly as brutal as Antonio Margarito’s recent loss against Manny Pacquiao when NZD/USD went down 64 pips at .7744 even without any economic report from New Zealand. More…

Switzerland

Nothing new here! Once again, the Swissy was trampled by the Greenback as USD/CHF climbed 49 pips to close at a new weekly high of .9802. That’s six in a row for those of you who aren’t keeping track! More…