Daily Economic Roundup – September 16, 2009

United States

Clobbered by risk sentiment, the USD lost ground against most majors (except for the GBP) yesterday. Optimistic comments from Fed Chairman Ben Bernanke, coupled with exceptionally strong US economic data, caused another round of risk-taking in the markets. More…

Euro zone

EUR bulls horns looked sharp yesterday, as they pushed EUR pairs higher. The EURJPY closed higher for the 2nd consecutive day, closing at 133.63, while the EUR set a new yearly high against the USD. Can the EUR sustain its momentum and continue to bull its way to new highs? More…

Japan

Yen trading was mixed yesterday as the currency was able to gain against the pound but fell against the dollar and euro. Still, from a broader time frame perspective, the underlying trend remains to be pro-yen. More…

United Kingdom

The pound sold-off like hotcakes in yesterday’s trading session as Governor Mervyn King mentioned that the Bank of England might lower the rate it pays to hold reserves for commercial banks. The GBPUSD pair was trading at 1.6640 prior the comment and went as low as 1.6403 as the trading session rolled along. Just in case you like counting, that’s a 238 pip drop! More…

Canada

Yesterday was your lucky day if you’re one of those who went long on the Loonie and short on the USD. Like the others, the USDCAD was under the radar as it just moved sideways for the most part of the day. It went on the limelight only during the US session when the pair lost as much as 150 pips! More…

Australia

After a very tentative start, it was all ‘go’ for the Aussie right when the US session opened yesterday. As of the moment, the AUDUSD is once again approaching its yearly high that it set last week. The question now is… Does it have enough juice to blow past it? More…

New Zealand

Looks like Eraser was the movie of the day for the NZD, as it erased all its losses versus the USD during yesterday’s trading session. The NZDUSD rose on increased optimism across the board, with the ending credits stopping at 0.7062. More…

Switzerland

The USDCHF ended the day unchanged as the Greenback took a sharp U-turn in its rally against the Swissy. As strong economic data poured in from the US, risk appetite dominated in the currency markets, causing the USDCHF to sink below 1.0350. More…

Pipnoculars: What’s on the Economic Horizon

Heads Up for US CPI, TIC Purchases, and Industrial Production Data
UK Labor Market Data on Tap
EUR: CPI Data Coming Up Today