Daily Economic Roundup – November 19, 2010

What’s on the Economic Horizon
German Producer Prices Up by 0.4%
Fed Head Bernanke Set to Testify Today
Japan’s All Industries Activity Index to Disappoint?

United States

Risk appetite made a huge comeback that not even a stellar lineup of economic reports was enough Piptorade for the dollar to hustle against its higher-yielding counterparts. Tsk, tsk. At the end of yesterday’s trading, EUR/USD was 113 pips higher at 1.3628 while GBP/USD had skyrocketed 148 pips to 1.6042. More…

Euro Zone

Strike two for the big guy! The euro gained on its major counterparts for the second day in a row yesterday when Ireland began to show willingness to accept financial help from the EU and the IMF. EUR/USD climbed by 113 pips at 1.3628, while EUR/JPY rose by a whopping 119 pips at 113.80! More…

United Kingdom

Boo yeah! The pound choke-slammed its way across the board yesterday when it rose against the major players in the charts. GBP/USD rocketed 148 pips higher at 1.6042, and GBP/JPY flew by 152 pips at 133.96. Heck, even GBP/CHF posted a 213-pip gain at 1.5992! More…

Japan

Double whammy for the yen! Improved risk appetite, combined with a weak outlook for the Japanese economy, clobbered the yen in yesterday’s trading. At the end of the day, the yen coughed up most of its gains to its major counterparts. More…

Canada

It was all downhill for USD/CAD after it opened at its intraday high of 1.0244. When the North American session came to a close, the Loonie had pared its loss on Wednesday with the pair parked at 1.0211. Ha! Who’s bringing sexy back now Greenback? More…

Australia

Up, up, and away! The Aussie kept soaring higher against the Greenback and the Japanese yen yesterday. Because of that, AUD/USD closed at .9882, more than a hundred pips higher than its open price wihle AUD/JPY reached a high of 82.79. More…

New Zealand

“All right, put your hands in the air!” The Kiwi did a Metro Man number yesterday when it soared against the dollar like the hero in the blockbuster hit Megamind. NZD/USD zoomed 86 pips higher than its open price at .7774 after hitting an intraday high of .7785. More…

Switzerland

And just when you thought the Swissy has gotten its mojo back, it erases its gains against its counterparts. Sheesh! It rallied to a high of .9855 against the dollar, only to tumble to .9968 at the end of the day with a 40-pip loss. Against the euro, it lost 169 pips as EUR/CHF closed at 1.3586. More…