Currency Markets in the News
End-of-Year Bias in EUR/USD
December 15, 2008
The dollar declined between mid-December and yearend against the euro in five of the last six years, including a 1.2% drop over that period in 2007. Over those six years, the dollar posted an average drop of 1.1% in the final half of December. A seasonal drop against the mark between mid-December and end-month occurred [...] More
U.S. Capital Inflows
December 15, 2008
Capital inflow financing of the U.S. current account deficit increased sharply in quantitative terms during September-October but weakened significantly in a qualitative sense. The broadest measure of net inflows reported by the Treasury Department totaled $286.3 billion in October, up from $142.6 billion in September. In contrast, there were net sales of $4.0 billion per [...] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Japanese Business Sentiment Sharply Lower
December 15, 2008
Equities rallied in the Pacific Rim and Europe despite poor Japanese and Chinese data. The Nikkei advanced 5.2%. Stocks also rose 4.9% in South Korea, 3.0% in Taiwan, 7.6% in Indonesia, 2.0% in Singapore, 1.5% in India, 2.0% in Hong Kong and 2.3% in Australia. The German Dax, Paris Cac, and British Ftse are trading [...] More
Currency Markets in the News
Bank of Japan Tankan Underscores Mounting Deflationary Risk
December 15, 2008
Bm Bnm Sm Snm All Dec 1998 -49 -39 -56 -43 Dec 1999 -17 -19 -32 -28 Dec 2000 10 -10 -16 -23 Dec 2001 -38 -22 -49 -39 -40 Dec 2002 -9 -16 -33 -36 -28 Dec 2003 11 -9 -13 -28 -15 Dec 2004 22 11 5 -14 1 Dec 2005 21 17 7 -17 5 Dec 2006 25 22 12 -4 10 Dec 2007 19 16 2 -12 2 Mar 2008 11 12 -6 -15 -4 Jun 2008 5 10 -10 -20 -7 Sep 2008 -3 1 -17 -24 -14 Dec 2008f -4 -1 -25 -31 -19 Dec 2008a -24 -9 -29 -29 -24 Mar 2009f -36 -14 -48 -42 -38 Diffusion indices in the above table were derived by subtracting the percent of respondents calling business conditions “unfavorable” from the percent characterizing such as “favorable.” The abbreviations for big manufacturers and big non-manufacturers are Bm and Bnm, while Sm [...] More
