Daily Economic Roundup – October 29, 2009

United States

Dolla dolla bill yo! The USD has been dominating this week, posting gains against most majors once again. The EURUSD pair fell to 1.4706, a level it hasn’t reached in two weeks. More…

Euro zone

The euro took another beating from the dollar yesterday as risk aversion continued to surge for the third day this week. The EUR/USD pair is currently trading around the 1.4700 handle and could revisit 1.4500 soon if risk aversion persists. More…

United Kingdom

Surprisingly, the pound held its ground against the greenback despite the broad-based weakness in the global capitals markets. The cable even closed several pips higher at 1.6374 from an opening price of 1.6368. The GBPJPY, however, was the one that dipped to a low of 148.31 before closing at 148.58. More…

Japan

The Yen marched ahead of the pack as risk aversion celebrated its homecoming party. The weakness in the global equities markets prompted investors to shy away under the comforts of the USD and the JPY. More…

Canada

Strong buying pressure pushed the USDCAD to bust out of consolidation and break above the 1.0700 mark. Risk aversion which resulted from a weak US economic reports, combined with BOC Governor Mark Carney’s comments against CAD strength, carried the USDCAD all the way up to a high of 1.0814. More…

Australia

Ouch! The AUDUSD crashed all the way down to a low of 0.8962 as weak economic reports from the US called for risk aversion. Although the AUD was able to benefit from a strong headline CPI, it was unable to hold on to its gains as it gave way to the safe-haven USD. More…

New Zealand

The NZD/USD pair took a major dive yesterday as Reserve Bank of New Zealand Governor Alan Bollard reiterated the bank’s commitment to keep rates steady well into 2010. The pair is currently trading just a few pips below 0.7200, right back to where it opened this month. More…

Switzerland

The USD cut up the CHF like Swiss cheese, and the pair shot up in yesterdays trading session. The pair closed the day at 1.0271. More…

Pipnoculars: What’s on the Economic Horizon

Advanced US GDP: Growth in Third Quarter?
BOJ Interest Rate Decision Today
German Unemployment Change Could Print 17,000 Net Job Losses