Daily Economic Roundup – August 11, 2009

United States

Traders are starting to get picky. Despite things being less bad, traders are starting to let go of other low-yielding “risky” currencies such as the EUR, GBP, CAD and CHF. This gave the USD the chance take back some of its lost ground from the weeks before. Is this buy-the-dollar the beginning of a new trend? Will we see investors run back to the safety of the USD? More…

Euro zone

It was the revenge of the fallen for the USD and JPY as they both rose strongly against the EUR in yesterday’s trading. Market participants have been favoring the likes of the EUR over the relatively safer USD and JPY as risk appetite in the capitals markets increase. This trend, however, was snapped last Friday as investors suddenly bought up the USD despite the improvements in the markets. Will this continue or was it just an isolated case? More…

Japan

After bowing down to the safe-haven USD last week, the JPY was able to recover some of its losses as traders set their sights on a possibly upbeat monetary policy statement from the BOJ today. Accounting for much of the JPY strength were strong economic reports released over the weekend. More…

United Kingdom

It seems like the GBP is still under that bearish spell cast by the BOE when they expanded their quantitative easing program. The GBP/USD and GBP/JPY tumbled down the charts despite the relatively strong economic data from the UK. More…

Australia

After riding high on uptrend waves a couple weeks back, it seems that the AUDUSD pair is now chilling, surfing in a downtrend channel over the past week. The pair largely remained in range yesterday, closing the day at .8371, just a few pips above its opening price. More…

Canada

The CAD fell down the Canadian Rockies again, extending its losing run to three days. The decline was attributed to a fall in global stock and oil prices, as well as speculation that the Canadian government feel that the Loonie has appreciated too much. More…

New Zealand

Looks like there’s no stopping the NZD from its rise against the JPY and the USD. It has been on a long term uptrend which started as early as March this year. With the positive developments in the world capitals markets, investors seem to favor the NZD due to its higher yields (2.5%). More…

Switzerland

No economic data was released yesterday yet traders took the CHF southwards again for the second trading day in a row. It seems that fundamentals are starting to catch up to these low-yielding “risky” currencies as they continue to lose ground against the USD. More…

Pipnoculars: What’s on the Economic Horizon

US Labor Data on the Docket

BOJ statement foreseen to be bullish

Will Yield Advantage Keep the NZD out of Harm’s way?