Daily Economic Roundup – November 10, 2009

What’s on the Economic Horizon

FOMC Members’ Speeches Scheduled Today
German ZEW Expected To Fall Slightly
UK Trade Balance Due Today

United States

The USD got off on the wrong foot yesterday, as it stumbled around in yesterday’s dance-off. The USD got left behind by all other major currencies, as traders danced to beat of “Sell the USD”! More…

Euro zone

Risk hungry traders muscled their way into the foreign exchange market yesterday, giving the EURUSD pair to retest the 1.5000 handle again. It seems like the EURUSD’s fall a few weeks back was simply a correction. More…

United Kingdom

The sterling pound continued its strong performance yesterday as it registered a new 4-month high against the dollar. The cable went as high as 1.6844 before closing at 1.6746. More…

Japan

The JPY weakened across the board in yesterday’s price action when some of the G-20 nations, which include Japan, voiced that the economies’ stimulus programs should still be maintained as of now. This led to massive selling in the USD and the JPY which consequently lifted most of the global equities markets. More…

Canada

Thanks to USD weakness, the USDCAD tumbled below the psychological 1.0600 mark and reached an intraday low of 1.0555. The pair edged even lower as the CAD drew strength from the rise in commodity prices and the improvement in Canada’s housing starts. More…

Australia

As the price of gold soared to a new high of $1111.7 per ounce, the AUDUSD climbed close to its most recent yearly high of 0.9328. USD weakness, which resulted mostly from the IMF’s comments about the overvaluation of the USD, added momentum for the pair’s ascent. Will it hit another yearly high this time? More…

New Zealand

Risk taking was back in full swing in the market yesterday as the Kiwi opened the Asian session almost 100 pips higher from its close last Friday. The Kiwi remained well supported throughout the day. More…

Switzerland

The USDCHF plunged lower yesterday, as dollar selling took off throughout the day. The USDCHF pair closed the day at 1.0086, a two week low. More…