Daily Economic Roundup – September 10, 2009

United States

Struggling to get back on its feet, the greenback put up a good fight against commodity currencies but was knocked down by the EUR, GBP, and JPY yesterday. What caused the slight pullback in the USD selloff was the release of the Fed’s Beige Book which highlighted consumer weakness in the US economy. More…

Euro zone

Euro domination was still in play yesterday, as the EUR continued to push higher. The EURUSD pair tested the 1.4600 handle before finally closing at 1.4551, once again resetting the yearly high. With more reports coming out from both sides of the Atlantic today, will we the EUR boom… or bust? More…

Japan

Wow, the JPY is really hanging on! I say this because, usually, when the USD takes a dive, the JPY goes along with it as both are considered as safe haven currencies. It seems that this isn’t the case anymore as the JPY remains to be holding its ground against both the EUR and GBP and even gaining versus the USD. More…

United Kingdom

The pound decided to give the dollar a break yesterday after Tuesday’s extreme one-directional moves. The GBPUSD pair opened Asia at 1.6500 and closed the US trading session at 1.6530. That’s a pretty tight move considering the pair moves almost 200 pips per day. More…

Canada

“—–.” That’s exactly how the CAD has been trading this week – flat. The CAD lost its steam and is now trading sideways versus the USD after gaining ground during the first leg of September. Though, this may change some time soon with the interest rate decision of the Bank of Canada later today. More…

Australia

The Aussie has hit new yearly highs last Monday and Tuesday against the JPY and the USD. However, it started to pull back this Wednesday and has been consolidating since. Is it poised for another breakout up top? Or is a larger correction in line? More…

New Zealand

Up and down movement for the NZDUSD, which touched the .7000 barrier before falling back to its opening price. The pair closed at .6960, a few pips from its opening price. Could we see the NZD give back some of its gains? More…

Switzerland

Dollar weakness was still the main theme yesterday, pulling the USDCHF down to the 1.0400 level. The pair underwent a bit of consolidation at the 1.0450 area before continuing its slide to a low of 1.0384 – a new high for the Swissy! More…

Pipnoculars: What’s on the Economic Horizon

Another Disappointment for US Jobless Claims?
Big Day Ahead UK – Halifax HPI and BoE Rate Decision
All eyes on Canada – BOC Rate Decision