Daily Economic Roundup – November 26, 2009

What’s on the Economic Horizon
Japanese Consumer Demand Remains Very Weak
UK CBI Realized Sales to Push the Pound Up?
Germany’s CPI Expected to Remain Flat

United States

Dolla’s going down, down… down, down… It certainly seems that way, as the USD hit a 15-month low and fell across the board. Looks like Ben Bernanke isn’t getting his wish of a strong USD and has nothing to be thankful for this Thanksgiving – ha! More…

Euro zone

Just like its fellow European currencies, the Euro was able to take advantage of the dollar’s weakness yesterday. It soared all the way to a high of 1.5146 and closed right there! More…

United Kingdom

The GBP pounded the USD from the get go yesterday to close 150 points higher at 1.6724. Will we see a retracement given yesterday’s sharp rise? Or will risk appetite continue to push the cable higher? More…

Japan

The JPY lost against most of the other majors except the AUD and the USD in yesterday’s price action. Positive economic reports in the US caused a rally in the capitals markets which in turn brought weakness to the relatively ‘safer’ dollar and yen. More…

Canada

The CAD was able to take full advantage of USD weakness yesterday as the Russian central bank declared their intention to increase their CAD reserves. Speculations that this could be Russia’s first move to diversify away from the USD brought the USDCAD all the way down to 1.0450. More…

Australia

Words from RBA official Ric Battellino saying that Australian economy is in a “new upswing” were like pixie dust for the AUDUSD. Combined with happy thoughts and a very upbeat outlook for the “Land Down Under”, this enabled the AUDUSD to fly past the 0.9300 level. More…

New Zealand

The Kiwi managed to edge up in yesterday’s trading session. It opened the Asian trading session at 0.7247 and closed the US session almost 80 pips higher at 0.7321. More…

Switzerland

Welcome to the parity! The USDCHF finally reached (and broke through) the key 1.000 mark. The pair traded as low as 0.9960, reaching levels it hadn’t reached since early 2008. More…

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