What's on the Economic Horizon

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United States

Risk sentiment turned sour again last Friday when Fitch, a global credit rating agency, decided to downgrade Spain's sovereign debt rating to AA+ from AAA. In effect, the dollar was crowned king of the FX markets again, helping the currency rally against other major currencies. More...

Euro zone

Just when no economic reports were scheduled to be released and you thought it was safe to go out and play, the markets were hit with some surprise news that sent the euro flailing lower once again. After hitting an intraday high at 1.2453, the EURUSD tumbled lower and finished the week at 1.2271. More..

United Kingdom

After testing the 1.4600 late last week, the GBPUSD came back down to earth and is now hovering just below the 1.4500 handle. With a slew of high impact reports coming out around the world this week, it could be a make or break week for those GBP bulls! More...

Japan

Renewed risk aversion once again boosted the yen against higher yielding currencies in Friday's matchup. Despite the release of any high impact economic reports, word that Fitch downgraded Spain spread like wild fire, causing traders to unwind their positions in higher yielding currencies like the euro and pound. More...

Canada

Despite increased risk aversion last Friday, the Loonie managed to stay afloat versus the dollar. Once again, the possibility of the BOC hiking rates weighed heavily on the minds of traders, which enabled to the Loonie to minimize its losses. The USDCAD ended the day at 1.0519, just 18 pips higher from its opening price during the Asian session. More...

Australia

A day after rising on a wave of renewed risk appetite, AUDUSD trading on Friday was much more subdued, as it traded within a range of just over 100 pips. Will the Aussie continue to regain some of its losses? Or will sellers be looking for more opportunities to short the Aussie? More...

New Zealand

The Kiwi went on a roller-coaster ride against its US counterpart last week. Market volatility sent the NZDUSD plunging down to the week's low at 0.6562 before skyrocketing to close the week at 0.6789. More...

Switzerland

"Nope, not yet," said the Swissy bears last Friday when news broke out that Fitch decided to downgraded Spain's sovereign credit rating. The currency finished the week at 1.1592 against the dollar and 1.4225 versus the euro. More...