What’s on the Economic Horizon
ADP Employment Report Expected to Show 70,000 Jobs Added
German Retail Sales: Will It Turn Positive?
Halifax HPI, Nationwide HPI, and U.K. Manufacturing PMI on Deck
United States
Make way for the king of the hill! Yesterday the pip-DJs got them traders fallin’ in love with the Greenback again as risk aversion continued to dictate the markets’ beat. Though the scrilla gave away 56 pips to the yen, it was able to gain 143 pips on the euro. The Greenback even managed to post a 35-pip gain on the franc! More…
Euro zone
…And the sell-off continues! It was smooth sailing for euro bears yesterday as a possible credit rating downgrade for Portugal took EUR/USD further down. It began its southbound course early in the day and never looked back. EUR/USD eventually locked in a 143-pip loss while EUR/JPY slid by 190 pips. More…
United Kingdom
It wasn’t the best way to end November, but the pound had no choice but to crumble to risk aversion and bad economic data. It racked up its eighth straight loss against the dollar as GBP/USD finished the day at 1.5555 after opening at 1.5574. Against the yen, it performed even worse as GBP/JPY locked in a 100-pip slide and closed at 130.19 at the end of the day. More…
Japan
Thanks to risk aversion that stemmed from debt contagion fears in the euro zone, the yen turned out to be the one of the favorites yesterday. It outperformed the euro, the Aussie, the pound, and yes, even the dollar! After it had hit a 2-month high at 82.41 on Monday, USD/JPY fell back down to 83.67. At the same time, EUR/JPY found itself dropping to 109.71, its lowest level in since early September. More…
Canada
Botheration! Risk aversion and disappointing economic data made the Loonie lost ground against the Greenback for the third day in a row yesterday. USD/CAD plunged 77 pips and fell to 1.0264 after it had hit an intraday high of 1.0287. More…
Australia
It looks like bad news just keeps piling in for the Aussie! Earlier today, the GDP report revealed that Australia’s economy expanded only 0.2%, which was less than half the initial forecast. Ouch! As a result, AUD/USD is currently trading at .9544, almost 100 pips lower from where it was at 24 hours ago. More…
New Zealand
Another one bites the dust! With risk aversion well underway, the Kiwi ended up in the losers’ camp yesterday. NZD/USD didn’t rise much higher than its opening price of .7470, eventually ending about 30 pips lower for the day. More…
Switzerland
Not today, buddy! Switzerland failed to steal the spotlight from the dollar yesterday despite releasing a very promising economic report. The franc steamrollered the euro with a 96-pip win, but was no match for the Greenback as USD/CHF rose by 35 pips after dropping to .9926. More…
