What’s on the Economic Horizon
Australian retail sales down by 0.8% in July
U.K. manufacturing PMI to rise in August
Swiss SVME PMI and retail sales due today
U.S. Dollar (USD)
Big Ben Bernanke pulled a “Draghi” during his Jackson Hole speech last Friday as he disappointed the markets when he neither confirmed nor denied that the Fed was ready for QE3. With that, the Greenback ended the day lower against most of its major counterparts as most traders still believed that further easing was on the table. Read more…
Euro (EUR)
EUR/USD finished the week on a good note last Friday, thanks to more reports indicating that the ECB is considering flexible yield targets for shorter-maturity bonds. The pair also received a lot of support from comments by Chinese Premier Wen Jiabao who said that the Chinese government is willing to put money in Europe’s bond market. Read more…
British Pound (GBP)
What a way to end the week! Thanks to a positive U.K. report and hopes for QE3 from the Fed, Cable capped the week near the previous week’s highs while Guppy caught a 12-pip gain. Will the bulls extend their gains this week? Read more…
Japanese Yen (JPY)
The Japanese yen had a mixed performance last Friday as it gained against the U.S. dollar and the Aussie but lost ground to the pound, euro, and Loonie. Will it be able to find a clearer direction today? Read more…
Canadian Dollar (CAD)
The Loonie flexed its muscles at the end of the week versus the safe haven Greenback amid the signs of another round of stimulus measures by the Federal Reserve in the near future. USD/CAD closed out Friday at .9858, 65 pips lower from its opening price that day. Read more…
Australian Dollar (AUD)
Thanks to Bernanke’s disappointing Jackson Hole speech, AUD/USD was able to benefit from U.S. dollar weakness as it closed at 1.0331 last Friday, 35 pips from its day open price. AUD/JPY, on the other hand, suffered a loss as it ended the day 12 pips below the 81.00 handle. Read more…
New Zealand Dollar (NZD)
Phew! After dragging NZD/USD down for five straight days, the Kiwi bears finally paused for a breather as the bulls pushed the pair 52 pips higher than its open price. So what made the Kiwi bulls giddy? Read more…
Swiss Franc (CHF)
With no data out from Switzerland, the franc joined the anti-dollar rally last Friday. USD/CHF fell to an intraday low of .9502 before it levelled off to a close just below its intraweek support at the .9550 area. Read more…
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