Daily Economic Roundup – November 22, 2010

What’s on the Economic Horizon
ECB President Trichet Set to Testify Today
Calm before the U.S. Dollar Storm?
Canadian CPI and Retail Sales Figures Due Tomorrow

United States

The Greenback is off to a weak start as it gapped lower against most of its major counterparts. But with a lot of top-tier reports due from the U.S. this week, could it pull off a dramatic finish or would it continue its losing streak? More…

Euro Zone

The euro was struttin’ its dougie against the dollar above the t 1.3700 when China’s hike sent it tumbling to 1.3630. But it was all good coz EUR/USD still ended the day 58 pips higher at 1.3686. Hollah! More…

United Kingdom

Down goes the pound for another round! Concerns over the U.K.’s inflation situation kept the pound from gaining ground. (My rhymes be sick yo!) Cable nosedived at the start of the London session, but recovered slightly during New York trading. When all was said and done, it finished 54 pips lower for the day at 1.5988. More…

Japan

Let’s call it a draw! Despite disappointing economic data, the yen was able to squeeze out a draw against the Greenback as USD/JPY was practically unchanged at 83.47 after Friday’s trading. Unfortunately, it didn’t do as well against the euro as risk appetite in the region improved and sent EUR/JPY up 44 pips to 114.24. More…

Canada

Unlike its com-doll counterparts, the Loonie looked like it was just chillin’ like ice cream fillin’ when China hiked its reserve ratio requirements. It fell modestly to 1.0234 against the dollar after the announcement but recovered alongside stocks during the New York session, ending the day with a 37-pip gain at 1.0179. More…

Australia

Is the Aussie aiming for parity with the Greenback again? Well, it sure looks like it since AUD/USD staged a strong rally towards the end of last week and gapped higher over the weekend! More…

New Zealand

The Kiwi ended the week on a high note last Friday as improved risk appetite and positive economic data spurred buyers on. From a sluggish start at .7775, NZD/USD fell to hit a low of .7747, only to bounce up and close at .7794 at the end of the day. More…

Switzerland

Oooh la la! Swissy’s got swagger! It managed to erase its loss against the dollar when USD/CHF ended Friday’s trading 48 pips lower at .9920. It also bagged 7 pips from the euro when rallied to close the week at 1.3576, after tapping a 2-week low at 1.3677. More…

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