Archive for December 1st, 2009

Larry's Blog

Obama's Afghan Speech, a Notable Anniversary, and What War Does to the Dollar

December 1, 2009

From leaked reports, we know that President Obama will explain in prime time tonight why a 30K troop buildup is necessary to West Point cadets, the American public and the wider world community.  He will lay out quantitative reality checks that will determine America’s future commitment in Afghanistan to ensure that the war doesn’t degenerate […] More

Currency Markets in the News

U.S. Minus Ezone PMI-Mf’g Spread Halved

December 1, 2009

Two-thirds of October’s rise in the U.S. manufacturing PMI was reversed last month, whereas the euro zone counterpart gauge got revised upward to 51.2 from 51.0 reported initially last week. That compared favorably to a 50.7 reading in October.  The U.S. outcome was over a point lower than forecast.  Euroland’s result was near expectations. As […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Dubai Scare Subsiding

December 1, 2009

Risk aversion has ebbed as investors conclude that Dubai doesn’t represent a systemic threat. Typical currency pattern with yen and dollar on back foot.  The greenback gained 0.6% against the yen but has lost 1.6% versus the kiwi, 0.9% against the Canadian and Australian dollars, 0.7% relative to sterling, 0.5% against the Swiss franc and […] More

Central Bank Watch

Third 25-Basis Point Hike This Quarter in Australian Cash Rate

December 1, 2009

The Reserve Bank of Australia Policy Board raised the cash rate to 3.75% from 3.5%.  A solid majority of analysts were expecting this outcome but with less confidence than a week ago.  A statement from the central bank said their November quarterly policy statement’s conclusions and recommendation of a gradual lessening of stimulus remain intact.  […] More