Archive for November 2nd, 2009

Central Bank Watch

Australia Likely to Get A Second Interest Rate Hike on Tuesday

November 2, 2009

In October, the Reserve Bank of Australia became the first G-20 central bank to lift its benchmark interest rate.  The cash rate, which had previously dropped in six moves between September 2008 and April 2009 from a cyclical peak of 7.25% to a 49-year low of 3.0%, was increased to 3.25%.  I expect a follow-up […] More

Currency Markets in the News

Widest Differential Between U.S. and Euroland Manufacturing PMIs in Over Two Years

November 2, 2009

The U.S. manufacturing purchasing managers index jumped 3.1 points last month, about eight times more than projected and to its best reading since July 2007.  The increase was also more than twice as big a point gain as experienced by the euro area manufacturing PMI.  As a consequence, the spread between the two indices widened […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Dollar Lower… Stocks Fell in Asia But Higher in Europe

November 2, 2009

The dollar lost 0.6% against the euro, 0.5% against the Swiss franc, Aussie dollar and kiwi, 0.3% against the Canadian dollar and 0.1% versus the yen.  Sterling fell 0.3% against the dollar and more against other currencies. Stocks in Asia have lost 2.3% in Japan, 3.1% in Pakistan, 4.3% in Vietnam, 1.4% in South Korea, […] More