Canadian monetary Policy On Hold
July 9, 2008
Stagflation is an issue in Canada, too, despite on-year core CPI of 1.5% in four of the last six reported months including May and headline inflation of 2.2%. May saw total consumer prices jump 1.0% because of a 5.5% advance in energy. The CPI on a seasonally adjusted basis advanced 3.2% at an annualized rate […] More
Currency Markets in the News
German and French Trade Stumble
July 9, 2008
The seasonally adjusted German trade surplus narrowed 18% in May but averaged EUR 16.2 billion in April-May, similar to EUR 15.9 billion per month in 1Q08. The disconcerting aspect of these data is the weakness in exports, which fell 3.2% m/m. That was the third drop in four months. Exports expanded 10.3% per annum over […] More
Currency Markets in the News
Japanese Economy Not as Insulated as Hoped
July 9, 2008
Japanese financial institutions held comparatively fewer bad loans when the global credit crunch struck last year. With vestiges of deflation, there was less reason to worry about inflation in Japan than elsewhere. Consumer prices excluding food and energy still show a 12-month dip of 0.1%. Equity and land values were less inflated in Japan than […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad: Weak German And French Trade Figures
July 9, 2008
Stock markets in Asia and Europe performed better. China +3.9% on signs of possible policy priority shift toward fostering growth from price containment. Hong Kong +2.8%. Nikkei +0.2%. Australia +1.6%. German Dax and Paris Cac +1.2%. Ftse +1.5%. South Korean won had its best day in a decade after another $3 billion of intervention support. […] More
