Daily Economic Roundup – October 28, 2009

United States

The dollar surged against most major currencies yesterday as its good old friend, risk aversion, visited the currency markets once again. Yesterday marked the second day of gains for the dollar. More…

Euro zone

The EUR, the fabled “anti-dollar,” continued to slide for the third consecutive day against.. yes.. the greenback in yesterday’s currency tug-of-war. After marking a fresh yearly high at 1.5063 early this week, the fiber is now down to the 1.4800 handle again. More…

United Kingdom

The cable started strong by racing from the 1.6300 area all the way to a high of 1.6440, at which it took a sharp U-turn. The stronger than expected CB realized sales report probably pushed the cable higher but the pair was unable to sustain its rally when weak reports from the US spurred risk aversion. More…

Japan

The JPY was on a roll yesterday as it ended higher against the USD, EUR, and AUD. Japanese retail sales for September provided support for the JPY since the actual figure came in line with forecasts. Risk aversion, which was caused by weak US economic reports, also boosted the safe-haven JPY. More…

Canada

After getting whacked across the face the previous day, the CAD got some revenge yesterday, as it gained against the USD. The USDCAD pair ultimately closed lower at 1.0647. Still, given the relatively tight trading that occurred, could we be in line for a big splash today? More…

Australia

Indecisive movement for the Aussie, as risk aversion and risk appetite continued to duke it out. The AUDUSD pair closed the day at 0.9166, just 4 pips from its opening price. More…

New Zealand

Investors snobbed the Kiwi’s 2.5% charm as they remain tentative in the global capitals markets. The NZDUSD pair fell to a low of 0.7415 before closing at 0.7442. More…

Switzerland

The Swiss franc started the day on a strong note yesterday but eventually fell when risk aversion caused by poor CB consumer confidence figures came out. The USD/CHF pair, which opened the Asian trading session at 1.0181, closed the US session at 1.0218. More…

Pipnoculars: What’s on the Economic Horizon

US Durable Goods Orders and New Home Sales on Deck Today

Japanese Preliminary Industrial Production Data Due Today

RBNZ Interest Rate Decision Tonight