Currency Markets in the News
Euroland Balance of Payments Worsens
August 25, 2008
The seasonally adjusted current account was in deficit in 1H08 by EUR 25.0 billion or EUR 50 billion at an annual rate. That constitutes a deterioration from annualized surpluses of almost EUR 11 billion in 2H07 and 19 billion in the twelve months to June 2007. Meanwhile, the year to mid-2008 saw direct investment outflows […] More
Currency Markets in the News
When Might We See $1.20 Per Euro Again?
August 25, 2008
This question was put to me over the weekend. While the euro has not traded as low as $1.20 in 29 months, it is not an unreasonable query. $1.20 lies near this relationship’s long-term center of gravity. The euro opened at about $1.18 on its first day of trading at the start of 1999 and […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Week Starts Quietly
August 25, 2008
The Olympic games and K.C. Fed’s Jackson Hole annual symposium are over. Britain is closed for its late-summer Bank holiday. U.S. existing home sales, due at 14:00 GMT, are the only data release of note today. The Democratic Party national convention begins in Denver. Not much is happening. The dollar is narrowly mixed, with drops […] More
