Daily Economic Roundup – August 27, 2009

United States

The markets finally picked up their pace yesterday as the USD made some serious advances other major currencies. Surprisingly, better-than-expected data coming out of the US failed to trigger a USD sell-off across the boards. More…

Euro zone

The EUR continued its ascent against the GBP in yesterday’s trading. The uptick in the German Ifo business climate, however, was not enough to give it a wholehearted support as it closed the day on the losing end versus the JPY and USD. More…


The USDJPY budged a few pips here and there but ended the day unchanged as both the USD and JPY pumped some iron yesterday. Downside risks are present for the JPY with Japanese exports suffering as trade in China shows signs of weakness. More…

United Kingdom

The pound’s knees gave way as the greenback pummeled it down to its lowest level in five weeks. No economic reports were released from the UK yesterday but, oddly enough, strong economic reports from the US resulted to greenback strength. More…


The USDCAD remained steady throughout most of the day, before zooming up in the US session. The USD benefited from speculation regarding Chinese growth. The pair closed trading at 1.0975. More…


Kachow! The AUD got blinded by the lightning speed of the USD yesterday, as the dollar rose across the board on concerns coming out of China. The USD outpaced the AUD as it rounded around the European session and eventually closed trading at .8284. More…

New Zealand

The NZD moved lower against the JPY and USD in yesterday’s trading due to some tentativeness in the global capitals markets, particularly in the US. While conditions are still improving, the mixed economic results in the US caused investors to step on the side line in the mean time. More…


The CHF retreated back to the 1.0700 price level yesterday as good data coming out of the US failed to provide support for the currency. It has been two days now and the usual “risk-appetite-aversion” dynamics did not materialize. Have traders over-extended themselves? More…

Pipnoculars: What’s on the Economic Horizon

Japan: PMI, CPI, Household Spending, and Unemployment Rate Due

Gfk confidence to confirm yesterday’s Ifo

US Preliminary GDP on the Docket

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