Daily Economic Roundup – August 24, 2009

United States

Wham Bam Thank You Uncle Ben! We saw the dollar fall on Friday, as the markets reacted optimistically to comments made by US Fed Chairman Ben Bernanke. The USD dropped off across the board (except against the JPY), as investors and traders looked for higher yielding currencies. More…

Euro zone

Strong data coming out of euro zone gave risk taking more fuel as the EUR soared against safe-haven currencies such as the USD and the JPY last Friday. It began the day at 1.4255 and closed the week a couple of pips above the 1.4300 handle at 1.4336. More…

United Kingdom

The GBP was not able to capitalize on last Friday’s risk appetite run as it just ended the day mixed. Spurred by optimism, investors flocked to the real high yielders, which excluded the GBP, and left out the USD and JPY. More…

Japan

The JPY once again lost its luster against the other majors in last Friday’s trading as investors became optimistic on the capitals market. The US markets, together with the other higher yielding currencies, were lifted with the unexpected jump in US existing homes sales. More…

Canada

Last Friday was marked by some comdoll domination in the markets! Prices of oil and gold climbed as US home sales data pumped up risk tolerance. Would this CAD rally continue after Canadian retail sales are released today? More…

Australia

The AUD/USD made quite a leap last Friday, landing just a few pips below the 0.8400 handle. Prices of oil and gold continued to rise as risk tolerance surged on account of the favorable US home sales report. More…

New Zealand

Risk appetite was in full swing again last Friday, keeping the NZD well bought against the USD throughout the European and US trading session. Given how NZD has been almost purely driven by degrees in risk appetite, the NZDUSD pair could make a new set of yearly highs if this kind of optimistic sentiment continues. More…

Switzerland

The CHF went up like Mr. Fredricksen’s house in UP last Friday, as the CHF hit a 2 week high against the USD. The pair closed trading last week at 1.0572. More…

Pipnoculars: What’s on the Economic Horizon

Canadian Retail Sales Data Up Ahead
EURUSD To Test Yearly Highs on New Industrial Orders?
US Midweek Volatility with Durable Goods Orders, New Home Sales, Prelim GDP
Light Week in the UK: HPI, CBI Realize Sales, Revised GDP

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