Daily Economic Roundup – August 19, 2009

United States

Despite weak economic data from the US, risk tolerance seemed to dominate in the markets yesterday. The USD fell against other major currencies while US stocks rallied after Target and Home Depot reported higher than expected earnings. More…

Euro zone

The euro held off against the dollar yesterday, as it avoided another beating and actually winning the round. The Euro advanced against the dollar, as the EURUSD pair closed higher at 1.4129. Can the euro sustain its momentum today? More…

Japan

The JPY took a break from its recent rally and gave other majors a chance to catch up yesterday. With yesterday’s absence of economic data, the move was most probably a pullback from the recent strength of the JPY. The dominating market theme seems to be risk aversion so unless a major shift sentiment occurs, the JPY will remain to be investors’ “go-to-guy”! More…

United Kingdom

Better-than-expected economic reports that came out of UK gave the pound a nice backdrop to stage a bullish correction after its recent steep decline yesterday. It closed the day at 1.6550, almost 200 pips from its Asian open price. More…

Canada

Similar to the other high yielding currencies, the CAD was one up against the JPY and the USD in yesterday’s trading. Risk appetite emerged from hiding during the US session which consequently buoyed the high yielders like the CAD. More…

Australia

The Aussie rebounded in yesterday’s game after losing sharply for two days. Driven by risk appetite, the AUD went on the offensive and scored one against the boys from the US and Japan. More…

New Zealand

Great day for the Kiwi, as the NZD pared off almost all the losses it made the previous day against the dollar. The NZDUSD closed trading at 0.6748 as it appears that risk appetite was in play yesterday. More…

Switzerland

The franc started the day by falling against the greenback… only to recover its losses by the end of the day. No economic reports were released from Switzerland yesterday but the USD/CHF tumbled down as traders snubbed the negative economic reports from the US. More…

Pipnoculars: What’s on the Economic Horizon

Demistifying UK’s Economy
Euro zone: German PPI data coming – Where is inflation headed?
Canada’s CPI to pull or lift the CAD

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