Daily Economic Roundup – August 17, 2009

United States

Poor consumer confidence totally sucked the life out of risk appetite last Friday, which gave investors a chance to provide the USD some love. Still, given the amount of ground lost by the USD in the past few weeks, the rally was far from convincing. More…

Euro zone

The EUR capped last week on a disappointing note as it closed negatively versus most of the other majors. During the week, it broke its intermediate (1 month) uptrend line and a significant psychological support at 135.00 against the JPY. Will the EUR move lower from then on? Technically it is probable. More…

Japan

Hooray for Japan! The nation was finally able to climb out of the recession as it posted positive economic growth for the second quarter. The 0.9% growth in GDP came below expectations of a 1.1% uptick but, after enduring negative growth in the previous five quarters, any sign of positive growth is welcome. More…

United Kingdom

Last week, we saw a period of consolidation for the GBP pairs. Could the GBP be gearing up for something big? Was last week’s price action the calm before the storm? Plenty of hard-hitting economic data are in store this week… More…

Australia

Interesting way to close the week for the AUD, as the AUDUSD pair went off to set a new high early at .8479 in the Asian session before dropping like a brick and closing at .8301. More…

Canada

Poor consumer confidence data from the US seems to have raised questions about economic recovery. This is in turn, caused the CAD to continue its fall, as the USDCAD pair shot up and closed the week at 1.0998. More…

New Zealand

Luck was not on the Kiwi’s side either as it slid past the USD and JPY in last Friday’s trading. The lack of positive catalyst plus the disappointing UoM survey result caused investors to safe guard their money under the watchful eyes of the USD and the JPY. More…

Switzerland

The CHF gave back a bit of ground to the USD as the trading week came to a close last Friday. Given Switzerland’s empty economic calendar, the move was primarily caused by the surge in risk aversion caused by the worse-than-expected data from the US. More…

Pipnoculars: What’s on the Economic Horizon

TIC Flows Poised to Show a Surplus Balance

Euro zone : Trade Balance on the docket

Big Week for the UK: CPI, MPC minutes, and Retail Sales Ahead

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