Daily Economic Roundup – July 21, 2009

United States

And the rally continues! Well.. the rally for higher yielding assets that is! Other majors continued their strong moves against the US dollar, as risk appetite continues to persist. More…

Euro-zone

The EUR starts the week on a rampage, gaining more than 140 pips against the USD in yesterday trading session. If traders’ hunger for risk continues to persist, the EURUSD pair could very well test this year’s highs. More…

Japan

The JPY is commonly known by investors as a relatively “safe” asset. Well, it was totally not the case for the JPY yesterday as it lost its grip against ALL the major currencies. Then again, you can say that it was safe if you went short on it. More…

United Kingdom

It was a revenge of the fallen for the GBP as it completely recovered all its losses yesterday against the primes – USD and JPY. Fueled by the matrix of risk appetite, the GBP laid its claim once again in yesterday’s trading world. More…

Canada

The USD/CAD slid below the 1.1500 mark as the CAD continued with its seventh day in consecutive gains. With the pair inching towards the psychologically significant 1.1000 level, will the BOC’s rate statement provide more fuel to the CAD rally? More…

Australia

Whoa! After yesterday’s lousy PPI report, the AUD/USD still has enough energy to stay on that huge wave of risk tolerance from last week. Will it ever get wiped out? More…

New Zealand

Up, up and away went the NZD yesterday as risk taking dominated the foreign exchange market once again. Will the NZD continue its ascent versus the USD and test this year’s highs? Or will we see a pullback from yesterday’s strong rally? More…

Switzerland

The Swiss franc cut through the US dollar like Swiss cheese yesterday, as investors and traders continued to eat away on increase risk appetite. The USDCHF pair closed at 1.0683, its lowest level in a month. More…

Pipnoculars: What’s up on the Economic Horizon

USD: Big Ben’s moment
CAD: BOC rate statement on tap
EUR: Fundamentals or risk? Which will prevail?