Daily Economic Roundup – November 9, 2009

What’s on the Economic Horizon

This Week in the US: Jobless Claims, Trade Balance, UoM Consumer Sentiment
Pace of Canadian Housing Starts Rising?
Friday: German, Euro zone 3Q GDP

United States

As expected, the US employment report caused a lot of wild volatility swings in the market last Friday. Like the previous reports, however, any serious move in one direction failed to materialize. Exchange rates eventually returned close to their price levels prior the release after the initial market frenzy died down. More…

Euro zone

The EUR did not have enough gas to overtake the USD in last Friday’s currency race. The EURUSD pair closed lower at 1.4846 after trading flat for the most part of the day. More…

United Kingdom

The sterling sealed its place as one of the strongest performing currencies last week as it continued to amass gains despite the weak US employment report. Bullish sentiment for the sterling, which resulted from an upbeat BOE statement last Thursday, pushed the GBPUSD past the 1.6600 mark. More…

Japan

The JPY was able to pocket some gains last Friday as the weak US employment report brought risk aversion back in the markets. Rallies among JPY crosses came to a screeching halt while the USDJPY sank below the 90.00 handle. More…

Canada

The Loonie got hit by poor employment data from both the US and Canada. This pushed USDCAD much higher to end the week, leaving the pair to close at 1.0752. More…

Australia

After a day of hesitation, the AUD made headway in Friday’s session. Good news from the RBA monetary policy statement helped boost the Aussie dollar, letting the AUDUSD close the week at 0.9178. More…

New Zealand

The Kiwi was able to close last Friday on a positive tone following its only taint for the week against the dollar. For last week, the NZDUSD pair fell to as low as 0.7084 before closing higher at 0.7139. More…

Switzerland

Despite the crazy price swings when the NFP report came out, the USD/CHF ended the Friday somewhat flat as it ended the US session at 1.0175, just 13 pips from its Asian open price. More…

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