Daily Economic Roundup – July 17, 2009

United States

The USD regained some its losses from yesterday throughout the entire trading session in Asia. Higher yielding currencies such as the EUR, GBP, AUD, quickly made headways and left the USD behind upon the opening of the London market. The USD was mostly choppy during the US session. Despite its effort to pull through, the selling pressure is far greater which led the USD back in the blue once again versus most of the other majors. More…

Eurozone

The EUR/USD reached the area above the 1.4100 mark and stayed there for an entire day. The EUR failed to stage a strong rally against the USD despite the rise in risk appetite yesterday. Weak fundamental data from the Euro-zone was pinpointed as the culprit. More…

Japan

The yen bounced back yesterday, after it got sliced up like a sushi roll the past couple of days. There was some volatility, especially during the US session when earnings reports helped create some market noise. Ultimately, the USDJPY and EURJPY pairs closed lower, at 93.78 and 132.63 respectively. More…

United Kingdom

It looks like pound buyers took a tea break yesterday, as the strong rally took a breather and we saw a bit of retracement on pound pairs. The GBPUSD pair traded within range yesterday, as it retraced during the Asian session before bouncing back up during the European and US trading sessions. More…

Canada

Phew. It seems like investors finally had their fill of risk yesterday as CAD bulls took a break (and profits, if I may add) from their rally run a few days before. Canada’s empty economic calendar was also able to keep technical levels in check and intact. More…

Australia

The AUD failed to extend its gains versus the USD yesterday as the 0.8050 price level held up quite well. The question that must be asked right now is this: Have traders satisfied their appetite for risk or will we see the AUD soar once again as the trading week comes to a close? More…

New Zealand

Although the NZD/USD started the day with a dive towards the 0.6400 level, tides turned later on as the pair recovered back to 0.6500. Despite the surge of risk appetite yesterday, it was unable to make any further advances due to Fitch’s surprise cut of the nation’s economic outlook. More…

Switzerland

The Swiss National Bank (SNB) may be smiling as the CHF slipped against all of the other majors except the USD in yesterday’s trading. More…

Pipnoculars: What’s up on the Economic Horizon