Daily Economic Roundup – September 3, 2009

United States

The dollar fell in yesterday’s roller skate, tripping on pebbles of mixed economic data. The dollar couldn’t sustain its run from the past two days, falling against most other majors, as trading was choppy throughout the European and US sessions. More…

Euro zone

“Never gonna give you up.. Never gonna let you down…” sang the euro bulls yesterday as they refused to let the EURUSD break through 1.4200 and trend lower. In fact, the EURUSD pair managed to take back some lost ground from the sharp drop last Tuesday. More…

United Kingdom

After a wild Tuesday, the GBP just closed mixed in yesterday’s trading due to a relatively light economic calendar for the UK. The GBP rallied against the USD as it closed the day at 1.6278 from 1.6162. It, however, continued to slide versus the JPY as it ended yesterday down to 150.01 from 150.10. More…

Japan

The orient’s economic giant, Japan, took the spotlight in yesterday’s trading as it won by landslide against most of the other major currencies. The only currency to put a little resistance against the JPY’s torrent was the AUD. The JPY’s momentum may be carried over today given the overall sentiment of risk aversion. More…

Canada

Price action was a bit slow yesterday as the Loonie stubbornly refused to budge. Don’t you think that’s a bit odd, considering gold prices surged by more than $20? More…

Australia

Nice one Australia! High five! The Land Down Under had another round of positive economic growth as its GDP recorded a 0.6% uptick for the second quarter. The AUDUSD jumped by more than 50 pips right after the report and climbed to a high of 0.8374 a few hours later. More…

New Zealand

Ho hum, looks like the Kiwi has taken a break after free falling against the dollar last Tuesday. The NZD/USD pair closed the US trading session just 20 pips lower from its Asian open. More…

Switzerland

The Swissy was able to take advantage of USD weakness midway through the US session after consolidating for most of the day. The USDCHF pair closed the day at 1.0605. More…

Pipnoculars: What’s on the Economic Horizon
Euro zone Rates to Remain Steady?
UK Services PMI on the Docket
Expected Rise in US ISM Non-manufacturing PMI