Daily Economic Roundup – July 27, 2009

United States

The dollar took more hits to end the week, as it fell across the board. It appears that risk appetite remains as the dominant market theme. This could be a crucial week in trading, as the several pairs are approaching key support / resistance levels – will these levels hold or will the recent rally have enough push for a major breakout? More…

Euro-zone

Better the expected economic data managed to push the EURUSD back higher during the European session after falling sharply during the Asian session last Friday. It seems that heightened risk tolerance continues to hold the EURUSD pair above the 1.4100 handle. More…

Japan

It was a week to forget for the JPY last week as it lost further support against the other majors. If there’s any consolation, the JPY managed to have a meek recovery to end the week last Friday as investors showed a little tentativeness over the market. More…

United Kingdom

Aston Martin’s GBP shifted its gear higher and raced past the new Nissan Skyline JPY and Chevrolet’s Camaro USD in last week’s 5-day endurance tournament. It was still, however, the BMW’s EUR coupe that took the checkered flag from the Aston Martin to finish ahead of the other racers. More…

Canada

The USD/CAD is poised to test its yearly low at 1.0783 as it teeters slightly above the 1.0800 level. The CAD stands to benefit from improvements in risk appetite even if this week’s economic schedule is a bit light. More…

Australia

Yawn… The AUD/USD was rocked back and forth in a pretty quiet range last week. Will it wake up from its slumber and break out today? There are plenty of economic news that could jumpstart some action in this pair starting Tuesday. More…

New Zealand

The NZD was pretty quiet last Friday as it just traded side wards within a tight 70-pip range. Price movement would probably come back in full swing this week as the Reserve Bank of New Zealand is scheduled to release its interest rate decision on Wednesday, 9 pm GMT. More…

Switzerland

After rising strongly early in the day, the USDCHF close slightly lower as the franc gained throughout the rest of the trading day. The pair has been testing key support near 1.0600 but cant break past it. Could the threat of currency intervention by the SNB be holding traders back from pushing the franc higher? More…

Pipnoculars: What’s on the economic horizon
Euro zone PMI Provide Support for the EUR
US New Home Sales Could Pull JPY Down
USD/CAD: Yearly Low in Sight