Daily Economic Roundup – September 7, 2009

United States

What a bad way to end the week for the USD last Friday. The other majors advanced against the greenback after the NFP report showed that payrolls for the month of August declined at a slower pace than initially predicted. Will the USD continue to slide further? More…

Euro zone

Last week, the euro zone’s economic calendar was peppered with a bunch of exciting reports but the price action of the EUR was a bit bland. This behavior could continue for another week since we’ve got a relatively light economic schedule ahead. More…

Japan

Risk appetite seemed to reign on Friday and we all know what this means for the JPY – it’s not a good thing! The yen sold off on Friday, giving way to higher yielders. The USDJPY and EURJPY pairs closed the week at 93.02 and 133.05 respectively, giving up much of the gains it made during the week. More…

United Kingdom

The pound is striking back! Friday marked the 3rd consecutive day of impressive gains for the GBP, as it had been dropping the previous couple of weeks. The pair ended trading at 1.6399, after touching as low as 1.6114 in trading during the week. Is this merely a retracement? Or is this the beginning of a new trend? More…

Canada

The CAD staged a magnificent performance as the trading week came to a close last Friday. The USDCAD pair opened Asia at 1.1034 and just travelled southwards without looking back before finding support at 1.0824. The CAD finished the week strongly versus the USD at 1.0869. More…

Australia

The AUD, like other commodity-based currencies, had a stellar performance last Friday. Actually, that might be an understatement given how the AUDUSD pair managed to hit another set of yearly highs! It closed the trading week 0.8509, almost 100 pips from its week open at 0.8415. More…

New Zealand

Trading on the heels of the surge in equities, the Kiwi pocketed in substantial gains last week. Risk appetite has been the Kiwi’s best friend for the past few days and this relationship could be tested as the RBNZ gears up for rate statement this week. More…

Switzerland

The Swissy managed to cover all of its losses against the USD and even close positively last Friday. Initially, there was a sharp sell-off of the CHF following the release of the NFP report. It, however, made a quick V-turn 2 to 3 hours later. More…

Pipnoculars: What’s on the Economic Horizon

RBNZ Rate Statement on Wednesday
Quiet Week Ahead for the Euro Zone
US Jobless Claims, Trade Balance, and UoM Consumer Sentiment Ahead