Daily Economic Roundup – October 20, 2009

United States

The greenback showed signs of weakness yesterday as risk appetite surged on the heels of the DJIA climbing back above 10,000. Although a bit of profit-taking was seen during the Asian session, most of the major currencies resumed their rallies against the greenback during the US session. More…

Euro zone

After trading lower in the Asian session, an empty calendar didn’t stop the EUR from jumping higher against the USD throughout the European and US sessions. The EURUSD pair closed trading at 1.4942. Hmmm… it seems like the 1.5000 price level could be the next target in sight… More…

Japan

After the yen’s sell-off last week, the currency managed to gain slightly against the USD yesterday. The USD/JPY pair ended the US session at 90.62, slightly lower from its Asian open price of 90.93. More…

United Kingdom

The GBP/USD finally managed to break 1.6400 yesterday as risk appetite popped its head once again in the forex market. Bulls weren’t able to sustain the rally though as the GBP/USD pair dropped back down and closed the US session at 1.6371. More…

Canada

The USDCAD’s rally was cut short as the Loonie reasserted itself back in yesterday’s price action. The pair fell to a low of 1.0281 before closing at 1.0292. The pair could move lower given the fact that it already closed below the psychological 1.0300 support. More…

Australia

The Aussie continued its streak against the greenback and the yen as it managed to register new yearly highs yet again. The AUDUSD reached 0.9286 before closing at 0.9279. Similarly, the AUDJPY pair rose to a high of 84.17 before closing at 84.06. More…

New Zealand

After dropping like a brick to end last week, the Kiwi had a comeback Monday! The NZDUSD pair zoomed away and set – once again – closed at a new yearly high at 0.7567. More…

Switzerland

Drawing strength from the surge in risk appetite, the Swissy overtook the greenback during Monday’s trading. Switzerland and the US did not release any economic reports yesterday but, with the DJIA reaching a fresh yearly high, the USDCHF fell to a low of 1.0103. More…

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