Currency Markets in the News
ECB Preview
April 1, 2009
Markets are priced for a 50-basis point cut of the ECB refinancing rate to 1.0% at 11:45 GMT on Thursday, and central bank officials have said nothing to dissuade those expectations. By itself, that creates a compelling case for such action by this transparency-minding body of monetary officials. The ECB utilizes three interest rates, a [...] More
Currency Markets in the News
U.S. Retains Advantage Over Euro Area in Factory PMI Comparison
April 1, 2009
Mf’g PMI’s United States Euroland Spread EUR/USD Feb 2008 48.8 52.3 -3.5 1.475 March 49.0 52.0 -3.0 1.553 April 48.6 50.7 -2.1 1.574 May 49.3 50.6 -1.3 1.555 June 49.5 49.2 +0.3 1.557 July 49.5 47.4 +2.1 1.577 August 49.3 47.6 +1.7 1.497 September 43.4 45.0 -1.6 1.437 October 38.7 41.1 -2.4 1.331 November 36.6 35.6 +1.0 1.268 December 32.9 33.9 -1.0 1.351 Jan 2009 35.6 34.4 +1.2 1.326 Feb 2009 35.8 33.5 +2.3 1.303 Mar 2009 36.3 33.9 +2.4 1.306 The differential between the manufacturing purchasing indices of the United States and Euroland remained roughly steady in March after shifting by almost five percentage points between October and February. The advantage currently belongs to the United States in spite of the dollar’s more than 20% appreciation against the euro [...] More
Currency Markets in the News
Tankan Survey Weaker Than Bearish Expectations
April 1, 2009
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 Mar 2009a -58 -31 -57 -42 -46 Jun 2009f -51 -30 -63 -52 -52 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, [...] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Tankan Survey and European PMI's Released
April 1, 2009
Sterling gained 0.4% against the dollar and more against other currencies. The dollar has firmed 0.4% against the Swiss franc, 0.3% versus the kiwi and Canadian dollar, and 0.2% against the yen and euro. Aussie dollar is unchanged. Stocks mostly rose in Asia but are lower in Europe. Nikkei +3.0%. Equities gained 2.1% in South Korea, [...] More
Bonds and Stocks
March and First-Quarter Markets in Figures
April 1, 2009
10-Yr Yield 03/31/09 Chg vs End-Feb Chg vs End-2008 U.S. 2.68% -35 Basis Points +56 Basis Points Germany 2.99% -12 +4 Japan 1.35% +7 +17 U.K. 3.17% -45 +15 Canada 2.78% -38 +9 3-month euros U.S. 1.19% -7 Basis Points -24 Basis Points Euroland 1.51% -32 -38 Japan 0.60 -4 -23 U.K. 1.65% -40 -112 Canada 1.00% -35 -118 Swiss 0.40% -10 -26 FX Pct Chg in US$ Pct Chg in US$ EUR/$ 1.3263 -4.5% +5.4% $/JPY 98.91 +1.3% +9.1% $/CHF 1.1388 -2.7% +6.3% GBP/$ 1.4328 -0.1% +2.0% AUD/$ 0.6924 -7.8% +2.2% NZ$/$ 0.5622 -11.0% +3.8% $/CAD 1.2619 -1.1% +3.7% Equities Nasdaq 1529 +11.0% -3.0% Djia 7609 +7.7% -13.3% Dax 4085 +6.3% -15.1% Nikkei 8110 +7.2% -8.5% Ftse 3926 +2.5% -11.5% Canada TSE 8720 +7.3% -2.8% Swiss SMI 4927 +5.0% -11.0% Commodities Oil, $ per brl 49.66 +10.9% +11.3% Gold, $ per oz 919.15 -2.5% +4.2% More
