Daily Economic Roundup – October 27, 2009

United States

The ‘green’ is indeed back at least yesterday for the USD as it staged a strong rally against most of the “anti-dollars.” Most notably, the EURUSD fell sharply to as low as 1.4845 after touching a new yearly high at 1.5063 early in the session. The fiber eventually closed at 1.4877. More…

Euro zone

Just as the EURUSD was starting to feel at home above the 1.5000 mark, the greenback staged a strong rally which sent the EURUSD tumbling down by more than 150 pips. The German GfK consumer confidence reading, which failed to meet the consensus, was unable to provide support for the EURUSD. More…

United Kingdom

The pound was able to get some nice hits in yesterday’s scuffle, but only ended the day slightly ahead against the dollar. Cable closed trading at 1.6337, after it had reached as high at 1.6396. Is pound selling back in style? More…

Japan

Mixed trading for the Japanese yen in yesterdays trading session. The USDJPY remained steady, closing just 3 pips higher at 92.18, while the EURJPY was a completely different story. The EURJPY dropped over 100 pips to close the day at 137.10. Did the yen benefit from some increased risk aversion? More…

Canada

The USD/CAD moved higher again yesterday as the Bank of Canada’s complaints about the CAD’s “persistent strength” continues to weigh down heavily on the minds of investors. The USD/CAD opened the week at 1.0523 and closed the US session yesterday more than 150 pips higher at 1.0691. More…

Australia

As usual, the AUD/USD pair took a queue from the drop in gold prices and gave back some of its gains from last week yesterday. The pair attempted to rally early during the Asian session but the move fizzled out and the pair eventually found itself back in the 0.9150 region. It seems that the next logical step for the AUD/USD bears is to take the pair to 0.9113, last week’s lowest price level. More…

New Zealand

The USD dominated over the major currencies yesterday, pushing the NZDUSD below the 0.7500 handle. No economic reports were released from New Zealand but the weak PPI data could have dragged the NZDUSD lower. More…

Switzerland

The Swissy was not able to save itself from the yesterday’s dollar rally. Just last Friday, the USDCHF marked a new yearly low at 1.0034. Yesterday, the pair sprung back to a high of 1.0203 before closing at 1.0181. More…

Pipnoculars: What’s on the Economic Horizon

Japan Retail Sales Due Later Tonight
Australia’s CPI Report to Print a 0.9% Increase
CB Consumer Confidence to Post Gains