Foreign Exchange Insights and Next Week
Foreign Exchange Insights
June 6, 2008
The leaders of the world’s two most influenctial central banks served up major, and more importantly, conflicting surprises to the currency marketplace last week. Bernanke went first and lent the dollar a substantial boost. Trichet had the last word, sending the dollar to a net weekly loss of 1.1% against the euro as of 16:15 […] More
Currency Markets in the News
EUR/USD Lifted By Higher U.S. Jobless Rate
June 6, 2008
The euro spiked upward to $1.5699 on the 0.5 percentage point jump in the U.S. jobless rate to 5.5%. While all other aspects of the monthly labor report were close to expectations and the 5.5% unemployment rate seems reasonable if not predicted, the data depict an economy that is skirting along the edge of a […] More
Canada Suffers Biggest Decline of Full-Time Jobs in 23 Months
June 6, 2008
Canada’s May labor market report was mixed but disappointing on the whole. Overall employment went up just 8,400 compared to a 10K expectation and following better-than-forecast advances of 19.2K in April, 14.6K in March, 43.3K in February, and 46.4K in January. A 34.2K drop in full-time workers was the greatest monthly loss since June 2006. […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad
June 6, 2008
After big losses on Thursday, the dollar recovered modest ground except against the euro where it has been flat. The greenback is up 0.3% against the kiwi, +0.2% versus sterling, the yen and Australian dollar, and up 0.1% relative to the C-dollar and Swiss franc. The Nikkei rose 1.0%. Australia’s S&P/ASX index climbed 1.1%, but […] More
