Daily Economic Roundup – September 17, 2009

United States

It’s back to the good ol’ days yesterday as the greenback exhibited weakness against most of the other majors. Investors turned their back the most from the greenback in 18 months as the recovery of the global economy reduces the demand for the USD as a safe haven. More…

Euro zone

Another new high! The EURUSD reached the 1.4738 mark yesterday as the USD sold off for another day. Risk appetite was kicked into high gear, causing the safe-havens USD and JPY to lose ground as US equities also made new highs. In the Euro zone, CPI came in line with expectations while core CPI beat the consensus. More..

Japan

Pretty volatile trading for yen pairs yesterday. The yen seemed poised for some major gains during the earlier sessions, but investors furiously sold it off later in the US session. It seems that the good industrial output data coming out of the US prompted an increase in risk appetite in the markets yesterday. More…

United Kingdom

Mixed trading for the cable yesterday, as it traded punches with the USD and left the trading round even. The GBPUSD closed near its opening, finishing the day at 1.6503 – just two pips higher than its opening! With the relative up and down movement yesterday and another set of data due later, what’s in store for the GBP today? More…

Canada

It seems that oil remains to be the primary determinant of the CAD’s value in the market. The CAD, a currency considered to have a tight link to commodity prices, set a six-week high against the USD as oil prices rose in yesterday’s trading session. More…

Australia

The Aussie staged another magnificent performance against the Greenback as it made fresh 2009 highs once again yesterday. Is there no force strong enough to stop the Aussie in its tracks? More…

New Zealand

The NZDUSD zoomed all the way to the 0.7150 area yesterday as risk appetite surged and caused a USD sell-off. Despite the lack of high-impact reports from New Zealand, the rise in US equities and the strong US economic data propelled the NZDUSD higher. More…

Switzerland

The CHF continued its up-move and extended its daily winning streak vis-à-vis the greenback yesterday to nine. The only hurdle in its course is the 1.0300 handle. Will a persisting selling pressure due to risk appetite cause the USDCHF to move down even further? Or will this streak be broken by a potential market intervention by the SNB? More…

Pipnoculars: What’s on the Economic Horizon

Canada’s CPI Expected to Post a Minor Gain
UK Retail Sales Expected to Have Slower Growth
Who Moved My Swissy
Japan – BOJ Press Conference Scheduled Today
Busy Day in Wall Street: Building Permits, Jobless Claims, and Philly Index Ahead