Market Vital Signs at Selected Prior FOMC Meetings
August 5, 2008
EUR/$ $/JPY 10Y, % DJIA Oil, $ 06/30/04 1.2173 109.44 4.63 10396 37.95 06/29/06 1.2527 116.07 5.20 11077 73.41 08/07/07 1.3749 118.55 4.73 13510 72.27 12/11/07 1.4682 111.49 4.11 13645 89.78 01/30/08 1.4792 107.31 3.70 12454 91.70 03/18/08 1.5786 98.73 3.41 12257 107.53 04/30/08 1.5562 104.58 3.83 12953 111.54 06/25/08 1.5568 108.37 4.18 11837 133.62 08/05/08 1.5466 108.20 3.98 11491 119.11 The greatest market shift since the FOMC met in late June involves oil prices, which initially advanced another 10.7% to a peak of $147.91/barrel in mid-July but subsequently plunged almost $30 and unwound two-thirds of the 20% jump that had occurred between the penultimate and June meetings. The FOMC in June had found [...] More
Currency Markets in the News
U.S. PMI Readings Better Than Euroland's
August 5, 2008
U.S. minus euro area purchasing manager differentials shifted increasingly in favor of the United States for the fourth time in the last six months in July. The manufacturing spread widened by 1.6 points to +2.6. Sharp increases were posted in the subcomponent spread for production to +6.2 points in July from 1.9 points in June [...] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad: Euroland Retail Sales Lower
August 5, 2008
The dollar is stronger except against the yen, with gains of 1.4% against the Australian dollar, 0.8% against the Canadian dollar, 0.6% against the euro and Swiss franc, and 0.4% versus sterling. The yen rose 0.3% against the U.S. currency. The FOMC is not expected to change rates. Its announcement is due at 16:15 GMT. Equities [...] More
