Daily Economic Roundup – November 18, 2009

What’s on the Economic Horizon
Inflation in the US Seen to Have Cooled in October
Canada’s Inflation Rate to have Risen 0.2% in October
Euro zone Current Account Deficit to Turn Into Surplus?
MPC Meeting Minutes on the Clock

United States

Despite the having several weak economic reports, the US equities markets still managed book new yearly highs. The Dow closed 0.29% higher at 10,437.42. The broader S&P 500 also inched higher to 1,110.32. Interestingly, the USD fashioned a broad-based rally against the other major currencies as well. More…

Euro zone

Despite an impressive rise in exports, the EURUSD took a sharp dive from a high of 1.5016 all the way down to an intraday low of 1.4808. Their trade deficit actually turned into a surplus as exports increased at their fastest pace in 20 months yet the pair slid by more than 200 pips. What gives? More…

United Kingdom

Resilient was the word of the day for the pound! Unlike other majors, the pound didn’t bow down (too low at least) against the USD, and was able to keep losses at a minimum. Cable closed lower at 1.6815, just 18 pips lower than its opening price. More…


Mixed trading for the yen yesterday, as it fell against the dollar but was able to make headway against the euro. The USDJPY closed slightly higher at 89.29, while the EURJPY fell to 132.80. More…


The USDCAD attempted to rally early during the European session yesterday but failed to follow through once the US session rolled along. The pair hit a high of 1.0620 before reversing its gains and closing the US session at 1.0510. More…


After two days of gaining, the Aussie finally gave in yesterday and dipped to a low of 0.9237 before finding some buying support. The Aussie eventually closed the US session at 0.9307. More…

New Zealand

The Kiwi lost ground against the greenback as the RBA hinted that they would pause their rate hikes come December. After lingering slightly above the 0.7500 mark, the NZDUSD dropped to a low of 0.7409 yesterday. More…


The Swissy snapped its two-day winning streak over the greenback as the US Dollar index rallied by as much as 1%. The USDCHF recovered much of its losses this week. The pair, however, hit some considerable resistance at the 1.0200 mark and its long term downtrend line. It could be heading down again. More…

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