Daily Economic Roundup – July 31, 2009

United States
Just when it seemed that we were about to see a shift towards risk aversion, risk-hungry investors jump back into the markets. It appears that the previous days moves were minor pullbacks, as investors jumped on encouraging government data and better than expected earnings reports. More…

Euro-zone
Better than expected news out of Euro zone helped the EUR move up a bit across the boards yesterday. Looking at the EUR’s price right now versus the USD, the currency certainly still has a long way to go before regaining the amount of ground it lost a few days back. More…

Japan
The JPY was beaten to a pulp by several Yakuzas as it was going down the Bento alley. The gang was not just going to let the JPY walk down the alley owned lock, stock, and barrel by the rival group without a scratch. The JPY found itself bleeding at the end of yesterday. More…

United Kingdom
The GBP took yesterday’s round on points as it closed positively against the other major currencies. The Sterling sprung back after getting beat for the past couple of days. All it needed was a bottle of “Risk Appetite (TM).” More…

Canada
The CAD resumed its rally against the USD yesterday after being deterred for a couple of days. Increased inflationary pressures in Canada, coupled with the rise in oil prices, enabled the CAD to regain strength. More…

Australia
Aussie for the rebound! The AUD/USD regained some ground yesterday after being pummeled down by risk aversion a couple of days ago. The reason behind the Aussie rally? The surge in building approvals. More…

New Zealand
The NZD dropped like a bomb yesterday despite the Reserve Bank of New Zealand (RBNZ) keeping interest steady for the third consecutive time. The prime culprit? Lackluster dovish comments from RBNZ Governor Alan Bollard. More…

Switzerland
The Swiss franc continued its losses versus the dollar and euro yesterday, as it declined slightly against both currencies. This is however, exactly what the SNB wants, as they have been very vocal and aggressive in their efforts to weaken the franc. More…

Pipnoculars: What’s on the economic horizon
US Advance GDP: Potential Market-Mover
Fragile Fundamentals Prevent EUR Rally
Canadian GDP Could Boost CAD Strength