Daily Economic Roundup – November 2, 2009

United States

If you’re a USD-hugger, then Friday was a day to remember for ya’. After printing a GDP growth of 3.5% just last Thursday, which of course lifted the spirits of all risk-hungry investors, the US equities markets (Dow, Nasdaq, S&P 500) all fell by more than 2.5% to close the month of October. The only thing that was green that day was the… greenback. More…

Euro zone

Last Friday, the EUR tumbled by more than 150 pips against the USD when weak US consumer data paved the way for risk aversion. German consumers were having a tough time as well, as evidenced by Germany’s retail sales report, thus adding selling pressure on the EUR. More…

United Kingdom

The pound ended the week the same way it started it – on a sour note! The pair fell as dollar buying resumed in Friday’s trading session leaving the GBPUSD pair to close the week at 1.6460. More…


After losing out the day before, the yen struck back in Friday’s trading session to end the week on top. With the Bank of Japan making their decision on exit strategies, the yen rallied, leaving the USDJPY and EURJPY pairs to close trading at 90.09 and 132.59 respectively. More…


The Loonie fell flat on its face last Friday, reversing all of its gains from the day before. The decline in the Loonie’s value was caused by the usual suspect – risk aversion. More…


The Aussie ended the week on a sour note as risk aversion rose on concerns that global recovery wouldn’t be sustainable. The AUD/USD pair closed Friday just a few pips above the 0.9000 handle, almost 200 pips from its week open price. More…

New Zealand

The NZDUSD took a sharp dive last Friday as weak economic reports from the US caused a wave of risk aversion. No economic reports were released from New Zealand on that day but the surprise dip in Canada’s GDP may have hurt the CAD’s fellow com-dolls. More…


The USDCHF pair closed higher at 1.0264 from an opening price of 1.0190 last Friday due mainly to the broad-based weakness in the US capitals markets. Sentiment has been for the USD for the most part of last week. The pair could break loose from its downtrend (1-hour) if such remains. More…

Pipnoculars: What’s on the Economic Horizon

Volatility Ahead: The Fed’s Rate Decision and the NFP Report
UK Manufacturing PMI Expected to Show Expansion
ECB Interest Rate Decision on Thursday
Another Rate Hike Expected from the RBA

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