Daily Economic Roundup – November 16, 2010

What’s on the Economic Horizon

U.S. PPI, TIC, and Industrial Production Report on Deck
Euro zone ZEW Economic Survey on Deck
U.K. Inflation to Remain Stubbornly Above BOE Target at 3.1%

United States

Despite mixed economic reports, the dollar was still able to strut its stuff on the charts and get traders noddin’ their heads like yeah! EUR/USD ended the day 136 pips lower at 1.3568 and so did GBP/USD by 74 pips at 1.6045. On top of that, USD/JPY closed at its 6-week high at 83.19. Up top yo! More…

Euro zone

And EUR/USD posts new monthly lows again! After retracing some of its losses last Friday, EUR/USD found itself on the chopping block again. From From it’s Asian session opening price of 1.3704, the pair was furiously sold-off throughout the day to eventually close the U.S. trading session at 1.3569. More…

United Kingdom

Drats! The pound slipped by 74 pips against the greenback yesterday when not-so-stellar economic reports from the U.K. popped up in the markets. Good thing the sterling managed to gain 45 pips on the yen at 133.49 and 40 pips on the euro at .8457. More…

Japan

“Zutto tsuzukete!”, encouraged the yen bears yesterday as they continued to push the yen lower against its major counterparts. A bleaker setting in the euro zone pushed EUR/JPY 15 pips lower at 112.89, but USD/JPY posted a 70-pip gain at 83.19 while GBP/JPY rose 45 pips at 113.49. More…

Canada

Aha, it looks like someone has been sneaking pips from the dollar! Without any major report on tap yesterday, the Loonie tapped a 19-pip gain against its counterpart as USD/CAD closed the day at 1.0092. More…

Australia

Sorry mates, not today either. The Aussie lost to the greenback for the third day in a row yesterday when not-so-awesome economic reports from Australia jumbled with a few positive reports in the U.S. AUD/USD fell by 39 pips at .9838 after peaking at its intraday high of .9921. More…

New Zealand

While other currencies posted major losses against the Greenback, the Kiwi was actually able to stay afloat thanks to the better-than-expected results on its retail sales report. By the end of the U.S. trading session, the pair had only fallen 22 pips from its Asian session opening price. More…

Switzerland

The Swissy’s scorecard was as mixed as a PiƱa Colada during yesterday’s trading. It pared some of its losses against the euro when EUR/CHF closed the day 38 pips lower at 1.3374. On the other hand, it gave up 72 pips to the dollar when USD/CHF surged to close at .9860 after bottoming at .9763. More…

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