Currency Markets in the News
G-7 Meeting Pretty Uneventful
April 24, 2009
The meeting of G-7 central bank chiefs and finance ministers in Washington produced no significant new revelations or surprises. A released statement and comments by attendees after the meeting adopted a tone of guarded hope. The global economic outlook remains “weak” — severe in Bank of Japan Governor Shirakawa’s personal opinion — and “downside risks […] More
Foreign Exchange Insights and Next Week
Next Week
April 24, 2009
Next week sees a checkerboard of holidays. Anzac Day shuts Australia on Monday. Japan will be closed on Wednesday for Showa Day, the first of four Golden Week holidays followed by Constitution Memorial Day on May 4th, Greenery Day on May 5th, and Children’s Day on May 6th. Friday, May 1st, is of course May […] More
Foreign Exchange Insights and Next Week
Weekly Foreign Exchange Insights: April 24th
April 24, 2009
Currency market momentum continues to revolve around risk aversion. To remain well-bid, the dollar needs risk averse investors more than it needs evidence that the United States is coming out of the global recession sooner and more quickly than other regions. When all is said and done, business cycles are likely to be more closely […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: U.K. GDP Plunged 1.9% Last Quarter
April 24, 2009
Sterling and the dollar are weaker. The dollar lost 1.0% against the yen, 0.8% against the Swiss franc, 0.5% against the euro and kiwi, 0.3% against the C-dollar, and 0.1% against the Aussie dollar. But the greenback rose 0.9% against sterling following news that British GDP sank more than forecast last quarter. U.K. real GDP […] More
