Daily Economic Roundup – October 13, 2009

United States

The other majors were like the Roadrunner, running circles around the USD in yesterdays track meet. Com-dolls continued to dominate the greenback, while European currencies also made headway. With traders coming in from the long weekend, let’s see if dollar selling continues. More…

Euro zone

The euro began the week on a strong note as it rallied towards the 1.4800 price level against the dollar yesterday. The EUR/USD initially fell during early in Asia when investors took profits of their short dollar positions but eventually gained some upward momentum when risk appetite picked up during the European session. More…

United Kingdom

The pound continued its slump against the greenback as it once again marked a new yearly low in yesterday’s price action. The cable fell to 1.5729 before closing at 1.5812. With UK’s CPI seen to slow, the pound could even fall further. More…

Japan

Despite some speculations that the Bank of Japan would let its corporate debt purchase programs expire as scheduled, the JPY still slid across the board in yesterday’s trading. Weakness was very much felt against the Kiwi and the Aussie as both yen pairs approached its yearly highs yet again. More…

Canada

If I tell you that the loonie hit another new yearly high against the greenback, would you still be surprised? The loonie has been surging for the past week and it seems that the rally is unstoppable! More…

Australia

At first, I thought the AUDUSD rally was already over as it edged down towards the 0.9000 mark during the Asian and European sessions. As it turns out, the lack of economic data from Australia was not enough to make the AUDUSD back down. After hitting an intraday low of 0.8984, the pair flew up by almost 100 pips! More…

New Zealand

The Kiwi traded in a U-shaped manner versus the dollar yesterday. The NZD/USD initially fell during the Asian session but managed to fight back once the European session went underway. Judging from how bulls react whenever the pair dips, expect to see a lot of buying on major support levels. More…

Switzerland

Up and down and up and down… As pointed out by my friend BigPippin, the USDCHF has been ranging as of late, with price action taking another dive yesterday. The CHF gained as dollar weakness continued, leaving the USDCHF pair to close the day at 1.0265. More…

Pipnoculars: What’s on the Economic Horizon
Earnings Reports Coming in This Week
Investor Confidence in Germany Probably Picked Up Again
UK’s CPI Seen To Slow