Daily Economic Roundup – November 30, 2009

What’s on the Economic Horizon

Canada’s Economy to Expand in September?
US: Chicago PMI Seen to Cool Down
RBA Expected to Hike its Rates from 3.50% to 3.75%

United States

The dollar bulls, turkeys… or whatever animal you want to call them took a break from their rampage last Friday. They erased some of their gains from Thursday as risk appetite improved slightly. More…

Euro zone

After hitting support at 1.4830, the EURUSD pair managed to retrace some of its losses and close the week at 1.4968 last Friday. Concerns on Dubai’s debt crisis managed to mellow down, helping overall risk appetite in the markets to improve. More…

Japan

The yen rallied across the board in last Friday’s trading. The JPY made a strong push against the other majors during the first part of last Friday. It, however, lost some of its gains after. More…

United Kingdom

The sterling got pounded by the greenback last Friday. Though, it was able to recover most of its losses during the second half of the day. The cable marked a new 3-week low at 1.6272 before closing at 1.6474. More…

Canada

It was quite a volatile day for the Loonie last Friday. The USDCAD pair soared from 1.0600 all the way to 1.0750 only to fall back again to 1.0600. What a rollercoaster ride it was?! Whew. More…

Australia

Similar to the other majors, the AUD lost its grip against the relatively safer USD and JPY last Friday. But despite the slide in the US capitals markets due to Dubai’s default threat, the Aussie still managed to stage a late rally, paring down its losses during the week. More…

New Zealand

The Kiwi bears took a breather from selling last Friday, helping support at 0.7050 hold. The dollar rally caused by the concerns on Dubai’s debt also seemed exaggerated, which help currency traders take profits off their dollar longs. More…

Switzerland

The Swissy, just other major currency pairs, managed to gain back some lost ground Friday. It seems that currency traders realized they over reacted to Dubai’s credit concerns, helping risk aversion ease. More…

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