Daily Economic Roundup – July 20, 2009

United States

When a country’s positive economic data hit the shelves, basic logic would dictate that its domestic currency would appreciate as well. For the USD, This doesn’t necessarily hold true in today’s tough times. The reason? Risk tolerance. More…

Eurozone

The EUR looked strong as it blasted its way on top of most of the other key currencies in last week’s trading. Risk tolerance continued to feed the EUR’s might for the most part of the week. Its only ‘kryptonite’ came in the form of the CAD. Trading of the EUR/CAD last week can only be described in one way… a bloody (red) long candle. More…

Japan

Political instability in Japan is making the JPY lose some of its safe-haven appeal. On the economic agenda, the BOJ’s monetary policy meeting minutes and trade balance data could spice up the price action of JPY pairs. More…

United Kingdom

Things aren’t looking so bright and sunny for the UK as economic data due this week threaten to hurt the GBP. Keep an eye out for the minutes of the latest monetary policy committee meeting due for release on Wednesday. More…

Canada

It appears that some traders decided to go on a weekend vacation, taking profits before leaving the markets. We saw some more consolidation to end the week for CAD trading, as the USDCAD pair remained within its daily range for two consecutive days after the strong rally by non-USD currencies last week. More…

Australia

Another day of consolidation for the Aussie, as bullish surfers took a break as the week came to a close. The AUDUSD pair actually closed a little lower on Friday, closing the week at .8018. Could this be the end of the recent rally? Or merely a retracement? More…

New Zealand

What goes up must come down. That’s exactly the case with NZD last Friday as it found itself shortchanged against all the other major currencies to end the week. More…

Switzerland

The CHF gave the USD a breather as Friday’s trading session came to a close last week. The USDCHF pair finally corrected itself as CHF bulls lost steam after its steep drop downwards. The absence of Swiss economic data last Friday also did not give any reason for the rally to continue. More…

Pipnoculars: What’s up on the Economic Horizon

USD: It’s all about risk

JPY: Losing its safe-haven appeal

CAD: BOC interest rate decision coming up