Daily Economic Roundup – October 30, 2009

United States

Nice one, Uncle Sam! The US economy finally made it out of the recession as it printed a positive GDP reading for the third quarter this year. Good news for the US, not so good news for the USD. As investors craved more risk, the USD fell against most majors except for the JPY. More…

Euro zone

Buyers finally came back to play yesterday, as the risk appetite was boosted by the better than expected GDP data from the US. The EUR benefited from this, with the EURUSD pair closing at 1.4822. More…

Japan

The yen got clobbered yesterday as risk appetite revisited the markets in full force as the US GDP report showed growth for the first time in more than a year. More…

United Kingdom

The pound, after two days of ranging, finally managed to breakout and gain some ground against the dollar yesterday. Reports out of UK just faded into the background as the strong US GDP reading took center stage. More…

Canada

The Loonie got its spark back when the US economy showed a 3.5% expansion during the third quarter. The USDCAD pair retraced down to 1.0655 before closing at 1.0665.
More…

Australia

The Aussie made a sharp “V” turn against the USD and the JPY yesterday after the US showed that its economy have grown by 3.5% during the third quarter. The AUDUSD went to as high as 0.9182 before closing at 0.9150. The AUDJPY also soared to 84.06 but closed a little lower at 83.64. More…

New Zealand

The Kiwi let out a sigh of relief, as they were able to avoid another day of losses in yesterdays trading. The NZD got a nice boost from risk appetite and the NZDUSD finished the day at 0.7328. More…

Switzerland

The USDCHF pair made an almost vertical dive as risk appetite surged on news that the US economy made it out of the recession. After hovering above the 1.0250 mark, the USDCHF dropped to a low of 1.0168. More…

Pipnoculars: What’s on the Economic Horizon

BoJ Expected To Keep Rates Steady
Chicago PMI and UoM Consumer Sentiment Slated To Improve
Canada’s Economy Seen to Post Growth