Currency Markets in the News
Ezone and U.S. PMI Scores Similar in June
July 3, 2008
The service-sector PMI’s for Euroland and the United States were each slightly below 50, connoting mild contraction. A bigger deterioration of conditions between May and June occurred in the United States than in the euro area, but the United States had a higher level ,49.8, than Europe’s 49.1. The 0.8 difference was similar to the […] More
Currency Markets in the News
Markets Conclude ECB Back to Wait-and-See Mode After 25-bp Rate Hike
July 3, 2008
The ECB raised key rates for the first time since June 2007. The 25-basis point increase of the refinancing rate to 4.25% matched expectations had had been strongly hinted at the June ECB press conference. However, ECB President Trichet did not present today’s move as the first of a series of increases. On the contrary, […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad: Awaiting an ECB Rate Hike and U.S. Employment Report
July 3, 2008
The dollar rose 0.5% against the yen, 0.4% against sterling and 0.3% against the Canadian and Australian dollars, but it is unchanged against the euro and off 0.1% against the Swiss franc. Asian stocks fell. The Nikkei slid only 0.2% but extended its losing streak to 11 straight sessions. Hang Seng -2.1%. Indonesia -3.4%. India […] More
