Daily Economic Roundup – November 6, 2009

What’s on the Economic Horizon

NFP Report to Take Center Stage
Geman Factory Orders to Post 1% Uptick
Joblessness in Canada Predicted to Have Risen in October

United States

Participants were particularly active in buying up the US equities markets in yesterday’s trading. Better-than-expected unemployment claims plus a strong third quarter earnings from Cisco carried the Dow and the S&P 500 by 2.08% and 1.92%, respectively. Despite these robust market performances, the USD did not weaken as much. More…

Euro zone

The EUR was unable to establish a clear direction as it got mixed economic signals yesterday. Both the EURUSD and EURJPY fell after euro zone retail sales printed a downside surprise but recovered their losses as the ECB implied that they are set to unwind their easing strategies soon. More…

United Kingdom

The pound survived yesterday as the BOE decided to expand quantitative easing by less than expected. The GBPUSD pair jumped to as high as 1.6637, before closing the day at 1.6583. More…

Japan

Bad day for the yen as it simply couldn’t stay ahead in yesterday’s trading. The yen zoomed up against the EUR and GBP, but couldn’t sustain its run and began to lag behind midway through the race. Ultimately, the EURJPY and GBPJPY pairs closed higher for the day at 135.02 and 150.55 respectively. More…

Canada

Despite better-than-expected results from economic data released, the Loonie maintained its sideward movement for the second day yesterday as traders sit on the sidelines and await the results of the upcoming US NFP report. More…

Australia

The Aussie lacked direction yesterday as currency traders sit on their hands prior the upcoming NFP report from the US. Despite this uncertainty, things are looking bright for Australia as the RBA seems poised to further raise rates. More…

New Zealand

With the lack of economic reports from New Zealand, the Kiwi zigzagged its way across the charts yesterday. At first, the NZDUSD staggered to a low of 0.7160 before crawling an intraday high of 0.7244. The pair then gave back most of its gains at the end of the day. More…

Switzerland

The dollar finished slightly higher against the Swissy despite the optimism exhibited in the US equities markets yesterday. The USDCHF just traded between 1.0132 and 1.0194 before closing at 1.0162. More…