Currency Markets in the News
U.S. Joblessness and Retraining
July 6, 2009
A front-page article in the Monday New York Times by Michael Luo cites recent studies and presents anecdotal evidence that cast doubt on the effectiveness of job retraining courses as a strategy for reducing unemployment. I’m not surprised. Similar findings surfaced periodically during the second half of the 20th century. The process of creative destruction, […] More
Currency Markets in the News
PMI-Services Again Favor U.S. Over Euro Area
July 6, 2009
PMIs U.S. Ezone U.S. Ezone Sum of Services Services Spread Mf’g Mf’g Spread Spreads Feb 2008 49.7 52.3 -2.6 48.8 52.3 -3.5 -6.1 March 49.9 51.6 -1.7 49.0 52.0 -3.0 -4.7 April 51.9 52.0 -0.1 48.6 50.7 -2.1 -2.2 May 51.2 50.6 +0.6 49.3 50.6 -1.3 -0.7 June 48.8 49.1 -0.3 49.5 […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Stocks and Sterling Falter
July 6, 2009
Stock markets around the world continued to move lower, and a drop is indicated by U.S. futures. India’s Sensex tumbled 5.8% on a forecast of the biggest budget gap since 1994 (6.8% of GDP). Equities also decined 1.4% in Japan, 1.9% in Indonesia, 1.5% in Singapore, 1.2% in Hong Kong, and 1.2% in Australia. In […] More
