Foreign Exchange Insights and Next Week
Next Week
February 5, 2010
The G-7 meeting of finance ministers and central bankers that starts today in northern Canada may break with the tradition of releasing a formal statement of common agreement and intention. Central banks meeting in Sweden, Korea, and Chile are not likely to change interest rates. The Bank of England releases a quarterly inflation report, which […] More
Foreign Exchange Insights and Next Week
Risk Aversion Trade to Push Dollar Higher
February 5, 2010
Although world economic prospects are not shabby in their aggregate, the gap between dynamic emerging markets and schlerotic advanced ones keeps widening. Australia’s quarterly Monetary Policy Statement, published today, asserts that “the world economy is now widely expected to grow by around 4% in each of the next couple of years,” yet the risk aversion […] More
Deeper Analysis
Canadian Labor Report Better Than Forecast
February 5, 2010
Canada added 43K jobs last month, almost three times more than expected. Over the past three months, jobs climbed at a monthly pace of 33.3K, which is analogous to a rising trend of 258K per month in the U.S. labor market. Two-thirds of the net Canadian employment gains in January came from young workers. In […] More
New Overnight Developments Abroad - Daily Update
Equity Plunge Continued in Asia and Europe
February 5, 2010
On continuing worry over budget deficits in Europe and the fragility of the global recovery, stocks fell 3.3% in Hong Kong, 2.9% in Indonesia, 2.7% in India, 3.2% in Taiwan, 2.3% in Australia, 2.9% in Japan and 2.0% in China. In Europe, the Paris Cac got whacked 2.2%, and the British Ftse and German Dax […] More
