Daily Economic Roundup – November 19, 2009

What’s on the Economic Horizon
Philly Manufacturing Index to Improve to 12.3 from 11.5
UK Retail Sales to Print 0.6% Uptick
BOC Governor Mark Carney scheduled to speak

United States

The USD traded in a mixed manner against other major currencies in yesterday’s trading session. It generally gained versus the commodity-based currencies like the AUD, NZD and CAD but lost against the EUR and the CHF. More…

Euro zone

The EURUSD went silent for a while as it just consolidated between the 1.5000 resistance and 1.4808 for the past couple of days. It may be poised for a breakout soon. The question, though, is where? Break up? Or break down? More…

United Kingdom

Just as the BOE officials had a split decision on their bond-purchase program, price action of the pound pairs was a toss-up between a gradual descent and tight consolidation. The GBPUSD edged lower during the US session while the GBPJPY was busy building up momentum for a breakout. More…

Japan

JPY trading was mixed yesterday as it lost ground against the USD and EUR but refused to back down from the GBP and AUD. It looks like the JPY’s knees are starting to buckle as the Organization for Economic Cooperation and Development pointed out several weaknesses in Japan’s economy. More…

Canada

The USDCAD sailed quietly through the night, as it stayed within range in yesterday’s trading session. Pair closed slightly higher at 1.0545. Could this be the lull before the storm? More…

Australia

Pressure on commodity prices left the AUDUSD ranging yesterday. Like other com-dolls, the AUDUSD traded within a range, closing slightly lower at 0.9298, just 10 pips away from its opening. More…

New Zealand

For a moment there it looked that the NZDUSD was going to finally move above the 0.7500 handle. This was not the case, however, as it sunk as soon as the bell in New York rang. The pair closed at 0.7465 after climbing as high as 0.7499. More…

Switzerland

The Swiss franc remained headstrong yesterday even as other major currencies fell against the dollar. The USD/CHF, from a high of 1.0170 during the Asian trading session, dropped all the way towards the 1.0100 region as the trading day moved forward. More…

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