Daily Economic Roundup – September 28, 2009

United States

The Greenback ended on a strong note last week despite the overwhelming amount of volatility in the markets. The upcoming week looks fully-loaded with hard-hitting, high-impact, sentiment-shifting economic reports so the price action is bound to be pretty exciting as well. More…

Euro zone

The euro was able to avoid further losses against the USD on Friday, as there was a lot of up and down trading. The EURUSD finished slightly higher, closing at 1.4670 – just 13 pips above it’s opening. After setting a new yearly high last week, what’s in store this week? More…

United Kingdom

The pound posted major losses across the boards versus most currencies yesterday as Governor Mervyn King of the BoE indicated that the weak pound was very helpful for their economy. It seems that traders are beginning to unwind all their “risk-driven” pound trades from a few weeks back. More…

Japan

The yen continued currency market domination last Friday as investors were comforted that the BoJ had no intention of doing any currency intervention. If this kind of buy-the-yen trend keeps up, we might see the currency head to 87.00 against the dollar. More…

Canada

The USD/CAD pair’s price action last Friday was muted as no economic data came out of Canada. The pair attempted to rally to 1.1000 but fell a few pips short. Looking ahead, the price of oil will be an important factor in determining the direction of the CAD’s value. More…

Austalia

The Aussie struggled to stay afloat last week as the safe-haven rallies dragged it lower and lower. It seems like strong fundamentals were not enough to buoy the AUDUSD and AUDJPY higher but maybe this week’s economic data from Australia could give the Aussie more strength. More…

New Zealand

A lot of indecision in Kiwi trading on Friday, as the pair just ranged throughout the trading sessions. Ultimately, the pair closed at it’s opening price. It seems like investors are unsure on whether to bring the Kiwi higher or to start some dollar buying… More…

Switzerland

The USDCHF seems to be doing a pretty good job holding on to its gains after “The Revenge of the Greenback” made its debut last week. Both US and Swiss economic schedules are filled with highly anticipated reports on their coming-soon list. Could the USDCHF push for more gains this week? More…

Pipnoculars: What’s on the Economic Horizon

Japan’s Tankan Survey Seen to Remain Negative

Traders Gearing Up for US Consumer Confidence Index and NFP Report?

ECB President set to speak today