Daily Economic Roundup – October 8, 2009

United States

“Not so fast,” said the greenback as it put up a good fight against the other major currencies yesterday. However, the greenback’s rally turned out to be a short-term pullback from Monday’s strong sell-off. At the end of the day, USD weakness spurred by an improvement in risk appetite resumed its course. More…

Euro zone

The EUR traded lower against the USD yesterday, after the pair traded in a relatively tight range. The pair traded within a range of 87 pips, and ultimately closed lower at 1.4679. Could traders be gearing up for earnings reports due at the end of the week? More…

Japan

Unlike the dollar, the yen was taken on a rollercoaster ride by traders yesterday as it advanced during the Asian session before eventually fading most of its gains when the US session went underway. More…

United Kingdom

The absence of economic data kept the pound within a 100-pip range against the dollar yesterday. With the Bank of England’s rate statement coming up today, we might see the GBPUSD pair continue to move sideways ahead of the release. More…

Canada

The USDCAD pair retraced back to 1.0653 after logging a new yearly low yesterday at 1.0528. This pullback, however, was cut short by the 1.0650 level. Now, the pair is on its way down again. Would it sail away to yet another uncharted territory? More…

Australia

The Aussie took a pause against the dollar and registered a “doji” candle in yesterday’s price action. The pair opened and closed at 0.8897 after marking a new yearly high at 0.8952. Time for a reversal? Not quite yet. More…

New Zealand

And the Kiwi keeps on striking! The NZD was able to establish once again a new yearly high, hitting 0.7399 before cooling off and giving up some gains to end the trading day at 0.7350. More…

Switzerland

The Swissy gave back some of this week’s gains to the greenback as the USDCHF climbed from the 1.0250 area to a high of 1.0361 yesterday. Rising Swiss unemployment along with the greenback’s relief rally allowed the USDCHF to get back on its feet. More…

Pipnoculars: What’s on the Economic Horizon

Bank of England Interest Rate Decision
European Central Bank Interest Rate Decision
Canadian Housing Starts to Post an Upside?