Daily Economic Roundup – November 16, 2009

What’s on the Economic Horizon

Japan’s Q3 GDP on Today’s Docket
US: Retail Sales Up, Business Inventories Down?
Canada’s Manufacturing Sales to Increase in September

United States

Looks like Thursday’s dollar buying was just indeed a technical retracement, as the dollar fell once again on Friday. The dollar fell as risk sentiment picked up on some nice earnings results from US companies. More…

Euro zone

Third time was indeed the charm for euro zone as its GDP report last Friday showed expansion. According to the report, euro zone’s economy expanded 0.4% during the third quarter of 2009 after contracting 0.2% between April and July. More…

United Kingdom

The pound edged the dollar in last Friday’s trading. The cable went as high as 1.6707 before closing at 1.6694. More…

Japan

The JPY concluded last week’s trading in a mixed fashion as it closed positively against the EUR, GBP, and USD but fell versus the AUD and the NZD. Japan’s third quarter GDP report will be published today. Its result could set the tone of the JPY’s short to medium term direction. More…

Canada

The CAD left the USD badly bruised in Friday’s battle as the CAD emerged as one of the strongest performing currencies last week. Although commodity prices consolidated as the week came to a close, fundamental strength of the Canadian economy gave the CAD enough energy to keep fighting. More…

Australia

The Aussie beat the living daylights out of the greenback last week as it climbed close to its recent yearly high of 0.9370. No economic reports were released from Australia last Friday but increased risk appetite, coupled with bullish sentiment for the Australian economy, boosted the Aussie. More…

New Zealand

The Kiwi, just like its fellow comdoll, the Aussie, flexed its muscles against the dollar last Friday. The Kiwi staged a stellar rally, heading all the way to a high of 0.7440, more than 100 pips from its Asian open price. More…

Switzerland

Dollar bears took over yesterday, bringing the USDCHF along with them. The USDCHF gave back much of its gains from Thursday to end the week at 1.0119. More…

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