Daily Economic Roundup – August 26, 2009

United States

It was like the opening of a Christmas season sale yesterday when investors flocked New York’s street. The US capitals markets, particularly the stock market, spiked after a better-than-expected CB consumer confidence results. Investors quickly jumped on the high yielders’ train and left the USD down a steep ditch. More…

Euro zone

Ho hum, what a slow day for the EUR… Both EURUSD and EURJPY rocked back and forth within their respective ranges, chalking up a few gains at the end of the day. Only a couple of economic reports were released yesterday, namely the German final GDP and Belgium NBB business climate. More…

Japan

Yen pairs stayed within range yesterday, although the yen finished the trading higher once again. The USDJPY and EURJPY pairs ended the day at 94.13 and 134.68. More…

United Kingdom

The pound continued its woes against the USD yesterday, falling for the 5th consecutive day! The pair closed trading at 1.6356. Will the GBP be able to recuperate today and hold ground? More...

Canada

The CAD attempted to rally against the USD early during the Asian session yesterday but move failed follow through when the US session came rolling along. Also, better-than-expected data that came out of the US initially caused some CAD buying but that too fizzled out. More…

Australia

The AUD/USD remains directionless for the second consecutive day as it simply drifted in a tight 90-pip range all throughout yesterday. Still, looking at the bigger picture, it seems that the AUD is holding its ground pretty well at its highest price levels this year. More…

New Zealand

The Kiwi ended the day virtually unchanged yesterday as it was unable to pocket its earlier gains. Inflation expectations posted a tiny uptick, showing that price levels are foreseen to stay more or less the same for the next months. More…

Switzerland

The CHF scored one against the USD during the US session. Thanks to the better-than-expected consumer confidence reading which prompted investors to move their money in higher yielding assets like the CHF. More…

Pipnoculars: What’s on the Economic Horizon

Soaring CAD Starting to Concern Bank of Canada

Advance Seen on US Durable Goods Orders and New Home Sales
German Ifo Business Survey To Boost Confidence in Euro Zone?

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