Daily Economic Roundup – July 14, 2009

United States

The USD generally lost ground against most major currencies yesterday as money flowed back in the foreign exchange markets. Given the way the USD failed to extend its gains from last Friday, it seems that the currency’s direction is still uncertain. More…

Eurozone

It was a heck of a ride for the EUR yesterday as it traversed through peaks and valleys. I’d have a heart attack if I was an unprepared intraday position player. It opened strong against the USD and the JPY until it hit a wall during the early part of the Asia session. It then went south only to reverse once again during the US session.More…

Japan

The JPY returned some of its gains from last week as the USD/JPY rebounded from the 92.00 handle and the EUR/JPY bounced up from 128.00. Was this merely a short-term correction or a reversal signal? More…

United Kingdom

The GBP greeted the week with a nosedive after an IMF report pointed out that the UK cannot afford another fiscal rescue given the current state of their balance sheet. Surprisingly, the GBP/USD pair was able to pull up from the dive – just 50 pips away from the 1.6000 mark. More…

Canada

The USDCAD broke key support yesterday, as the CAD was boosted by good news from the BOC Business Outlook Survey. The pair closed at 1.1517, reflecting the strongest showing by the Loonie since the start of the month. More…

Australia

Just when it seemed like the AUD was headed for new lows, it bounced back yesterday, as it did a kangaroo like jump after hitting the lower bound ATR yesterday. More…

New Zealand

The NZD started the day on a positive note after the retails sales reports showed some better-than-expected results. It gains, however, quickly flew as the NZD found itself under the sand for the remaining part of the Asia session up until the start of the US trading session. More…

Switzerland

The CHF was pretty much range bound in yesterday’s trading session. Traders just shrugged off worse-than-expected figure on the producer price index. More…

Pipnoculars: What’s up on the Economic Horizon

Bullish USD Tone yet to be confirmed
ZEW: Happy People = Happy Euro?
BOC: Inflation expected to miss 2% target
Risk tolerance to boost Com-dolls?