Foreign Exchange Insights and Next Week
Next Week
January 23, 2009
The last week of every month is stuffed with data releases, and a number of central bank policy meetings are scheduled, too. The week has two holidays of note, Australia Day on Monday and the Chinese New Year, which will be observed in several Asian centers for most of next week. It is widely agreed […] More
Foreign Exchange Insights and Next Week
Weekly Foreign Exchange Insights: January 23rd
January 23, 2009
The dollar and yen are off to strong starts in 2009, while sterling broke sharply lower this past week. Currency movement continues to be driven by financial market deleveraging and the flight to safety, not fundamental economic comparisons or interest rate differentials. Global economic prospects remain too uncertain to rank with confidence the severity of […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Yen and Dollar Sharply Higher, Stocks Are Lower
January 23, 2009
The dollar is off 0.4% against the yen but has climbed 2.2% against sterling, 1.8% against the Ozzie dollar, and 1.6% versus the euro and kiwi. The Canadian dollar fell 0.6%. Oil prices are 1.6% lower at $42.96/barrel, whereas gold advanced 1.7% to $873.20 per ounce. Stocks are having another horrific day, with drops of […] More
