Archive for December 11th, 2009

Foreign Exchange Insights and Next Week

Next Week

December 11, 2009

Central banks hold monetary policy meetings next week in the United States, Japan, Sweden, Norway, the Czech Republic, Hong Kong, the Philippines, Colombia and Turkey, but not are expected to change rates.  The BOJ Board meets not long after an emergency meeting that approved a new injection of short-term liquidity in Japan.  The FOMC statement […] More

Foreign Exchange Insights and Next Week

Weekly Foreign Exchange Insights: December 11th

December 11, 2009

Taking a cue from increasingly positive technical market support, the tone of chatter about the dollar’s near-term prospects has become palpably more bullish.  Since recording a 2009 low against the euro the day before Thanksgiving, the dollar has recovered 3.6% including a gain of 1.6% this week as of 15:40 GMT. Dollar-Swiss has rallied 4.3%.  […] More

Videos

ForexTV Interview

December 11, 2009

Click here to hear my December 11 interview with Julie Sinha of ForexTV in which I explain how a downward seasonal bias could trip the dollar’s rally later in December.  I was questioned on other matters concerning the currency outlook as well. More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Reacting to China Data And Awaiting U.S. Retail Sales

December 11, 2009

The yen has retreated 0.6% against an otherwise mixed dollar.  The greenback has risen 0.3% against the kiwi and 0.2% versus the Aussie dollar but edged 0.1% lower against sterling, the Swiss franc, and euro. The Japanese Nikkei jumped 2.5%.  Stocks also gained 1.3% in Indonesia and Thailand, 0.9% in Hong Kong, and 0.6% in […] More

Central Bank Watch

Icelandic 7-Day Lending Rate Cut By Another 100 Basis Points

December 11, 2009

The Central Bank of Iceland slashed its key benchmark rate by a further percentage point to 10% on Thursday.  Six cuts since March 19 have cumulated to 800 basis points from the peak of 18% observed after an IMF-mandated 600-bp rate hike in October 2008.  After cuts of 100 bp last March, 150 bp in […] More

Central Bank Watch

Central Bank of Chile Leaves Monetary Policy Rate at 0.5%

December 11, 2009

Similar to the last three meetings in August, September and October, the key central bank rate in Chile was left at an accommodative 0.5%, and the statement from officials promised such would stay there for “a prolonged period of time.”  How long might that be?  Well, the statement say to at least 2Q10.  The phrase “prolonged […] More

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