Larry's Blog
Next Week
November 14, 2008
Japan’s data calendar includes third-quarter real GDP, the monthly all-industry index, department store sales and customs clearance trade figures. The Bank of Japan, which on October 31st cut its overnight call rate by 20 basis points and its discount rate by 25 bps to 0.3% and 0.5%, meets on Friday and will retain the rate […] More
Foreign Exchange Insights and Next Week
Weekly Foreign Exchange Insights: November 14th
November 14, 2008
Recent foreign exchange movements have exceeded what fundamental economic discrepancies justify. The biggest winner in this reconfiguration has been the yen followed by the dollar. Commodity-sensitive currencies and sterling are the main losers. Since September 12, the Friday before Lehman’s failure, the yen as of 15:50 GMT today had had advanced 39.6% against the Australian […] More
Currency Markets in the News
You Got Your Troubles, I Got Mine
November 14, 2008
Data released this week underscored the universality of economic difficulty. Here’s a sampling: Japanese core machinery orders plunged 35.6% at a seasonally adjusted annualized rate in the third quarter, and industrial output dropped by 5.1% saar. Consumer confidence hit a 5-1/2 year low last month. Japanese exports in the first 20 days of October were […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: 3Q Growth Negative in Euroland, Germany, Italy and Spain
November 14, 2008
Stocks rose 2.7% in Japan, 2.4% in Hong Kong, 3.7% in China, 1.4% in Australia and 3.1% in the Philippines. Equities are trading 3.4% higher in Britain and are up 3.1% in Germany and 2.1% in France. Yen strength and commodity currency weakness dominated forex trading. The dollar fell 0.7% against the yen but shows […] More
