Daily Economic Roundup – September 29, 2009

United States

Trading got “out of sync” again yesterday as the greenback strengthened further against most of the other majors despite the broad-based buying in equities. Is yesterday’s price action just an oddity? Will we see the dollar rise with risk appetite again? More…

Euro zone

The EUR fell sharply yesterday as ECB President Trichet said that he supports a strong USD policy. This triggered a strong USD rally, causing the EURUSD to fall from a high of 1.4720 to a low of 1.4565 during the Asian session. It attempted to get back on its feet during the European session but it was unable to do so. More…

United Kingdom

The pound got dropped after getting hit by a market haymaker early in the Asian session, before bouncing up midway through the day. The GBPUSD pair hit a new low at 1.5771, a level it hasn’t touched since early June. Cable recovered on a standing 8 count and finished the round at 1.5881. More…

Japan

The yen came running out of the gates to start the trading week, as it zoomed past the EUR and USD. Alas, the yen slowed down and gave up its lead during the latter session. In fact, as my buddy BigPippin pointed out, the USDJPY pair closed at it’s opening… could the yen strength be losing steam? More…

Canada

It seems the Loonie managed to fight back and retrace some of its losses from week before in yesterday’s trading session. The USDCAD pair opened the day at 1.0910 and closed at 1.0870 by the end of the US session. More…

Austalia

The Aussie gave investors the chance to buy it up again at cheaper levels yesterday. The AUDUSD pair initially fell during the Asian session towards support at 0.8600 but quickly found legs and rallied all the way above 0.8700 as the European session went underway. More…

New Zealand

Indecisive much? The Kiwi continued to trade in a zigzag manner yesterday as it tumbled down during the Asian and European sessions but regained ground during the US session. More…

Switzerland

The Swissy was one of those who bowed before the USD in yesterday’s price action. The USDCHF rallied and closed at 1.0336 from a 1.0266 opening. More…

Pipnoculars: What’s on the Economic Horizon

Consumer Confidence in the US Probably Increased
Trichet Supports Strong USD Policy
Tankan reports to rock markets tomorrow
UK’s Current Account and GDP on Deck Today