Daily Economic Round Up for July 7, 2009

United States
The USD was still a little tipsy as it lost its footing against most of the other majors yesterday. If its any consolation, it found itself at the positive end versus the GBP. More...
Eurozone
The EUR/USD set its sights on jumping back above the 1.4000 mark but the prevailing risk sentiment yesterday prevented it from doing so. Although the pair was able to make a rebound at the end of the day, weak economic data and recent criticism of the ECB's actions restrained the EUR from making further headway. More...
Japan
Early yesterday, we saw a mad dash to safety as the yen rallied strongly during the Asian and European session. The USDJPY pair opened at 96.15 and dropped as low as 94.67, before finally closing at 95.34. It appears that risk aversion continued to be the dominant market theme, as recent news has caused traders to finally see that global economic recovery will slow. More...
United Kingdom
Volatility returned for the pound, as it got pounded yesterday during the European session... before recuperating much of its losses during the US session! The GBPUSD pair hit a new monthly low at 1.6100 before moving back up to close just below 1.6300! More...