Daily Economic Roundup – October 21, 2009

United States

Yesterday was a day to celebrate for the greenback as it rebounded against most of the other majors. After declining for several days due to some positive economic and earnings reports that upped investors appetite for risk, dollar short sellers probably covered their positions and took profits. More…

Euro zone

The EURUSD attempted to hit the 1.5000 mark yesterday but fell short by just a few pips. Soon after, it tumbled down as German PPI came in worse than expected. Weak PPI numbers from the US triggered a run of risk aversion, which pushed the EURUSD much lower. More…

United Kingdom

Pound trading was up and down in yesterdays action. By the end of the day, the GBPUSD pair made no headway and closed at 1.6381, just a few pips from its opening price. Could this signal the end of the recent upswing by the GBPUSD? More…

Japan

Yen pairs didn’t close significantly higher or lower from their openings in yesterdays trading session. Was this due to the empty economic calendar? Or are traders gearing up for some big moves? Could we be in line for some explosive action today? More…

Canada

The Loonie experienced a serious butt-kicking yesterday when the Bank of Canada commented on its strength. The USD/CAD was trading at the 1.0320-1.0340 price range prior the BoC’s announcement and just surged almost 200 pips after. More…

Australia

The Aussie, just like the other comdolls, fell against the dollar when risk aversion hit the markets yesterday. Apparently, the gloomy data from that came out of the US overshadowed better-than-expected earnings from top companies like Texas Instruments and Apple. More…

New Zealand

After sprinting to an intraday high of 0.7576, the NZDUSD lost steam and tumbled to a low of 0.7442. New Zealand’s economic calendar was free from high-impact reports as economic releases from the US directed most of the NZDUSD price action yesterday. More…

Switzerland

Despite the overall strength of the USD in yesterday’s trading, the Swissy still managed to reach a new yearly high against the dollar. The USDCHF pair fell to fresh low of 1.0083 before closing at 1.0127. The 1.0100 support appears to be keeping the pair afloat at least for now. Though, the pair could fall down to the psychological 1.0000 mark if this level breaks. More…

Pipnoculars: What’s on the Economic Horizon

Fed’s Beige Book to be Published Today
BoE MPC Meeting Minutes Due Today
Japan’s Trade Balance Surplus Expected to Widen to ¥380 Billion