Daily Economic Roundup – August 31, 2009

United States

Are you ready for an action-packed week? Word on the forex street is that breakouts are bound to happen this week. After ending on a mixed note against the majors last week, the USD could establish a clearer direction this time around. Bullish or bearish? Well, that depends on the bunch of economic data ahead! More…

Euro zone

The euro cried cncle to end the week, as it fell against the USD, JPY and GBP. The EURUSD closed the week at 1.4301, while the EUR lost against the GBP for the first time in 8 days. Will the EUR bounce back today? More…

Japan

The JPY’s movement last Friday versus most major currencies was pretty much range bound as little economic data kept volatility to a minimum. Still, it was the third straight weekly gain for the JPY against the USD and GBP. It seems that the overall trend remains to be buy-the-yen. More…

United Kingdom

Pretty quiet day at the races last as the GBP just remained range bound all throughout Friday. To give you an idea on its price action, the GBPUSD pair opened Asia at 1.6280 and closed the week a few pips lower at 1.6275. More…

Canada

The CAD was just stuck within a range in last week’s trading. The resistance at 1.1000 (against the USD) held nicely. Will the CAD continue to move sideways this week? We might see it move higher today if the economy is able to register some positive GDP numbers. More…

Australia

The AUD has been nice beneficiary of risk appetite given its relatively more attractive interest rate. Though, the market has been mixed as of late. Still, it managed to end last week on a slightly higher note. This week will be major for Australia given the high profile releases. See what’s up! More…

New Zealand

The NZD fell on Friday, as we saw the USD rally across the board. The NZDUSD closed at .6837. The pair had been setting yearly highs in past weeks – is this the week we see it blow past the .6900 barrier? More…

Switzerland

Tired of consolidation? This week’s economic reports from both Switzerland and the US could turn the volatility up a notch for the USDCHF. More…

Pipnoculars: What’s on the Economic Horizon

US Event Risks This Week Could Trigger Breakouts
Spotlight’s on Australia: RBA Rate Decision, GDP, and Trade Balance
UK Manufacturing and Services PMI on the Docket this Week

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