Daily Economic Roundup – October 1, 2009

United States

The dollar got smacked around yesterday, dropping across the board. More specifically, com-dolls (AUD, NZD, and CAD) all made significant headway in their respective battles. With another heavy round of economic data coming out today, will the dollar be able to gain any support? More…

Euro zone

After losing almost every single day against the dollar this week, the euro finally found some legs in yesterday’s trading session. The euro’s victory was shaky though as bears tried to push the currency lower on account of poor results on the ADP report. At the end of the day, the euro’s losses proved to be short-lived as it was able to bounce back once the initial selling frenzy died down. More…

United Kingdom

The pound rallied against the greenback yesterday to close at 1.5980 and trade as high as 1.6127. The cable rebounded two days after hitting a fresh 3-month low at 1.5771 just this Monday. More…

Japan

Makoto Itsumi, a former currency official at Japan’s Finance Ministry, said that the yen may reach 100 against the dollar in the coming months given Japan’s relatively weak economic fundamentals and low interest rate levels. The yen, however, closed mixed versus the other major currencies despite his bearish sentiment on the JPY. More…

Canada

The Canadian economy stalled in July as its monthly GDP was unchanged from the previous month. Even so, the Loonie was able to rally and bring the USDCAD to a low of 1.0672 yesterday. More…

Australia

Woah! Fueled by strong fundamental data, the AUDUSD hit another yearly high as it raced towards the 0.8850 area yesterday. The reported improvements in retail sales, leading indicators, and private sector credit all seem to be nagging the RBA to hike up rates soon. More…

New Zealand

The NZD/USD pair blew past 0.7200 yesterday as risk appetite helped push commodity-based currencies higher yesterday. It closed the US trading session at 0.7223, almost 80 pips from its Asian open. More…

Switzerland

“Swissy… Swissy… what you gonna do? What you gonna do when the SNB comes for you… Swissy… Swissy…” The CHF sold off against the USD and EUR yesterday, sparking speculation that once again, the SNB intervened. More…

Pipnoculars: What’s on the Economic Horizon
US Labor, Manufacturing, Housing Data Due Tonight
Euro zone Joblessness to Edge Higher Again
UK’s Manufacturing PMI Up Ahead

  • efelicia14

    I do enjoy reading your updates. For some reason when I click on today’s United Kingdome the pop up window only show June 8th – June 30th of this yr….

  • cyberdoc

    I have the same issue also…..wonder why it takes you back to a previous date in the year.?

  • efelicia14

    I do enjoy reading your updates. For some reason when I click on today’s United Kingdome the pop up window only show June 8th – June 30th of this yr….

  • cyberdoc

    I have the same issue also…..wonder why it takes you back to a previous date in the year.?