Foreign Exchange Insights and Next Week
Next Week
February 12, 2010
Next week starts off with a bunch of holidays: Presidents Day in the U.S. on Monday, Family Day for Canada on Monday, Mardi Gras in Brazil on Monday-Tuesday, and the Lunar New Year in China all week. EU finance ministers, known as Ecofin, meet in Brussels on Tuesday to try and secure a plan for […] More
Foreign Exchange Insights and Next Week
The Mark, the Euro, the Dollar and the Yen: Now and Then
February 12, 2010
Risk aversion has the dollar grinding higher, but I’d like to focus this week’s Foreign Exchange Insights essay on the longer term prognosis. During the first 25 years of flexible exchange rates, the mark, yen and Swissy were called “hard currencies” because conservative monetary and fiscal policies in Germany, Japan and Switzerland promoted low inflation, […] More
New Overnight Developments Abroad - Daily Update
Markets in an Edgy Mood
February 12, 2010
The U.S. dollar rallied 1.4% against the Australian dollar, 1.1% against the Swiss franc, 1.0% against the euro, 0.8% against the kiwi, 0.7% versus sterling, 0.6% relative to the Canadian dollar and even 0.2% against the yen, which also tends to be bid when risk aversion spikes. Stocks are comparatively resilient, advancing 1.0% in China, […] More
