Daily Economic Roundup – August 20, 2009

United States

The USD was all over the place in yesterday’s trading. It started the day outpacing the other majors but lost gas at the end. It made a sharp V turn during the opening of the US session to end the day mixed. More…

Euro zone

After slowly warming up for almost half a day, the EUR/USD sprinted past the 1.4200 mark just before the final bell tolled. But why the rally even when Germany saw its worst PPI in 60 years? More…

Japan

The yen went on a roller coaster ride yesterday, riding a strong run of risk aversion during the early sessions, before giving up much of its gains once the US session rolled around. The main catalyst was US equities gaining in the US session. More…

United Kingdom

Yesterday’s trading session almost left the pound crying over spilled milk – or rather, tea. The pound fell during the Asian and European sessions against the USD and JPY, before bouncing back up slightly midway through the US session. The GBPUSD and GBPJPY eventually closed trading at 1.6535 and 155.44 respectively. Where will the pound head off to today? More…

Canada

And the CAD continues its fight against the USD for the second trading session in a row! Led by the pointed decline in oil inventories and the sharp rise in oil prices, the USDCAD closed the US session at 1.0960 from its Asian open at 1.1016. More…

Australia

AUD bulls just refuse to let the currency go! Every time the AUD dips in value, traders find some reason to buy it and take it topside again. Can’t really blame them though as Australia seems to be at the forefront of economic recovery…. Higher interest rates, return to growth, declining unemployment… With the IMF declaring that the recession is over, will risk-taking push traders to take the AUD to new yearly highs again? More…

New Zealand

New Zealand’s economic schedule was virtually empty yesterday but the NZD/USD made a couple of strong moves… only to land right back where it started, right around the 0.6750 area. More…

Switzerland

The USD/CHF was practically in a consolidation mode around the 1.0750 area for the most part of yesterday. The silence, however, was broken during the US session. The price suddenly pierced through the 1.0750 and 1.0700 supports in just two strong moves. More…

Pipnoculars: What’s on the Economic Horizon

Will the ECB Continue to Ignore Deflationary Threats?

UK Retail Sales to Cause Ruckus
US Unemployment Claims and Philly Fed Index on the Docket

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