Daily Economic Roundup – July 15, 2009

United States

We saw some mixed trading yesterday for the USD. In general, it fell against most majors, most notably against commodity currencies, as traders pounced on headline news from the US. Could this signal a shift in risk assessment? Or will the recent consolidation continue to persist? More…

Euro-zone

While other major currencies staged a nice rally versus the USD yesterday, the EUR was weighed down heavily its poor economic data results. Even with increased risk tolerance, the EUR would probably find it hard to make significant headway above the 1.4000 mark versus the USD. More…

Japan

It was a very tough day for the JPY as it got beat by most of the other currency players. Its only ‘win’ came against the CHF. The JPY’s movement was very volatile especially in the US session given the mixed economic data results in the US. More…

United Kingdom

Yesterday’s trading was a bit shaky for the GBP as it went up and down like a pulse. Good thing it still managed to close on the positive side versus the USD and the JPY. However, it got blindsided by the CHF when it was pushing its way against the EUR and the CHF. More…

Canada

Behold the mighty CAD! One of the most powerful moves in the currency market yesterday was that of the USD/CAD, which drilled through several support levels. With the lack of major economic reports and with oil lingering below $60 per barrel, where oh where did the CAD draw its strength? More…

Australia

Surf’s up, dude! Did you catch that mighty big wave on the AUD/USD yesterday? I was stoked! And so were Australian businessmen as their confidence index turned positive for the first time since December 2007. More…

New Zealand

The NZD soared yesterday, breaking the 1.6400 handle versus the USD. The sharp move upside was most likely caused by traders increased appetite for risk as New Zealand’s economic cupboard was completely barren. More…

Switzerland

The USDCHF was an odd couple yesterday, as it was one of the few pairs where the USD gained yesterday. This was intriguing, as most of the USD’s gains came late in the US trading session, when the pair shot up. A result of low liquidity between the two currencies? More…

Pipnoculars: What’s up on the Economic Horizon

Underneath the US retail sales report
Euro-zone: Deflation Fears Abound
USD/CAD: On the verge of another free fall