Daily Economic Roundup – December 9, 2009

What’s on the Economic Horizon

UK: Trade Balance and Annual Pre-Budget Report to Come out Today
Swiss Unemployment Rate Could Rise to 4.2%
RBNZ – Rate Expected to Stay at 2.50%

United States

All hail the mighty greenback! Major currencies bowed down to the US dollar as risk aversion plagued the markets yesterday. Obstacles to global recovery dampened demand for higher-yielding currencies as growing government deficits worldwide brought forth credit downgrade concerns. More…

Euro zone

The euro just can’t seem to catch a breather eh? For the third day in a row, the euro against the dollar, leaving the EURUSD pair to closed the day at 1.4703. More…

Japan

Is it just me or do traders always find some reason to buy up the yen whenever it dips? For the second straight day, the yen managed to edge up strongly against its western counterparts. The currency was able to rally against the dollar, the pound and the euro. More…

United Kingdom

Poor economic data together with increased risk aversion in the markets bumped the Cable a couple of notches down in Tuesday’s session. The Cable ended the US session around the 1.6300 handle, almost 150 pips lower from its Asian session opening price. More…

Canada

The 1.0500 mark proved to be a solid support yet again as the USDCAD simply bounced from it to close at 1.0639. Will the Loonie regain its losses from yesterday? Or will the USD bulls take charge of today’s trading as well? More…

Australia

The Aussie is presently hanging on a thin thread against the dollar and the yen as the Aussie bears once again took over yesterday’s trading. The AUDUSD slid to 0.9044 from an opening of 0.9113 while the AUDJPY also fell to 79.90 from 81.59. More…

New Zealand

The kiwi continues to fall of the tree, as traders have been eating more of those dollar apples the past few days. The NZDUSD pair fell to 0.7072 and is now nearing its November lows. More…

Switzerland

Dragged farther and farther from parity, the USDCHF edged towards the 1.0300 area as risk aversion dominated for another day. While Monday’s risk sentiment was a result of Fed Chairman Ben Bernanke’s speech, yesterday’s USD rally was spurred by debt concerns from all over the globe. More…