Daily Economic Round Up – July 28, 2009

United States

Risk tolerance was kicked into high gear yesterday as US new home sales surged 11% in June, its strongest pace of growth since December 2000. A total of 384K new homes were sold last month, beating the consensus at 353K. Does this translate to a housing market rebound? More…

Euro zone

The euro continued to make some gains, as the EURUSD and EURJPY pairs closed slightly higher at 1.4239 and 134.53. The euro has been gaining some headway, albeit at a much slower pace than a couple weeks ago. Can the euro shift into a higher gear and make new highs? Or will sellers make a move and gain momentum? More…

Japan

The JPY extended its losses in yesterday’s trading session as investors sought higher-yielding assets. Will investors continue to sell the JPY in favor of higher yielding assets to satiate their appetite for risk this week? Given how the JPY pairs are approaching their respective previous month highs and today’s relatively light economic calendar, it seems that some consolidation is in the cards for the JPY. Still, predictability is not something the FX market is famous for so watch out! More…

United Kingdom

The light economic calendar pretty much kept the GBP’s price action range bound all throughout yesterday’s trading session. It closed the US session just a few pips shy of 1.6500 from its 1.6470 Asian open. More…


Australia

One step higher. The AUD continued its ascend over the USD and JPY in yesterday’s trading. It did so for the most part of the Asia and Euro sessions. It, however, took a breather during the US session as investors decided to bank in their profits. More…

Canada

Same with the other higher yielding currencies, the CAD was able to support its upward momentum over the ‘safe’ currencies USD and JPY. More…

New Zealand

Up and down trading for the Kiwi yesterday, as it lost during early in the Asian session, rallied in the European session, before ultimately closing slightly lower as it gave up its gains during the US session. The NZDUSD pair closed 10 pips lower on the day, closing at .6564. More…

Switzerland

The USD/CHF melted to a low of 1.0674 yesterday as the surge in US new home sales triggered a short run of risk tolerance. It recovered some of its losses later in the day as it rebounded above the 1.0700 mark. More…

Pipnoculars: What’s on the economic horizon

USD: Consumer confidence retreats?
GBP: Will the Distributive Sales Survey Show an Upside Surprise?

  • MonsterTrader

    Where do you get your fundamental info from? I’m purely a technical trader right now, however I’d be interested in trying to blend some fundamentals into my analysis.

    Thanks!

  • MonsterTrader

    Where do you get your fundamental info from? I’m purely a technical trader right now, however I’d be interested in trying to blend some fundamentals into my analysis.

    Thanks!