Daily Economic Roundup – October 6, 2009

United States

I hope you aren’t tired of hearing this but the USD took another hit from the commodity-based currencies (AUD, NZD, and CAD) yesterday. The USD was also sold off slightly versus European currencies such as the EUR and the CHF. More…

Euro zone

The EUR took advantage of the dollar’s weakness in yesterday’s trading and closed at 0.56% higher at 1.4651. The fiber’s price went downhill from 1.4650 to 1.4600 during the euro session. It was only able to move forward when the US market opened. More…

United Kingdom

The pound was off to a good start as it climbed steadily towards the 1.6000 mark during the Asian session. Boosting the pound was the service sector PMI, which printed better than the consensus. During the US session however, the pound gave back its gains and landed right where it started. More…

Japan

The JPY was hurt by the Japanese Finance Minister’s comments about taking action if the JPY moves in a “biased direction” which suggests that the new political party is still biased towards currency weakness. It seems like Finance Minister Fujii is succumbing to political pressure… And that can’t be good for the JPY. More…

Canada

After breaking ahead during early in the trading day, CAD buying cooled off and went ice cold. The CAD did however, benefit late in the US session, as the dollar sold off. The USDCAD ultimately closed the day at 1.0700. More…

Australia

The Aussie shot up early in the Asian session, then stayed pretty much ranged bound for most of the day before shooting up once again during the latter hours of the US session. The pair opened at .8682 and ended the day at 0.8771. More…

New Zealand

Up! The Kiwi surged against the USD in yesterday’s action to mark a new yearly high at 0.7315. It closed at 0.7301 from an opening price of 0.7176. As of this writing, the NZD is once again scoring new highs. Will it be able to sustain this upward move? Let’s see. More…

Switzerland

Franc trading was particularly slow yesterday as it just bounced around a 50-pip range against the dollar. The USD/CHF pair closed the US session at 1.0319, only 10 pips lower from its Asian open. More…

Pipnoculars: What’s on the Economic Horizon

RBA Rate Decision coming up

Another Uptick Expected for UK Manufacturing Production

IMF meetings begin today