Foreign Exchange Insights and Next Week
European Fiscal Problems Won’t Fade
April 30, 2010
Currency market trading next week will be dominated by the scramble to rescue Greece. Outside aid for that heavily indebted economy has been misplayed repeatedly by just about everyone involved in negotiations, and the euro has paid a price for that indecision. Investors cannot avoid comparing attempts to rescue Greece from sudden default to the […] More
Central Bank Watch
Bank of Japan Review
April 30, 2010
The Bank of Japan kept its uncollateralized overnight call rate target at 0.1%, the level since December 2008, and released a new Outlook for Economic Activity and Prices. Projected real GDP growth in the current fiscal year (April 1 – March 31) was revised upward by a half percentage point to +1.8%, while the growth […] More
New Overnight Developments Abroad - Daily Update
Data Deluge on Last Day of Month and Week
April 30, 2010
The dollar eased mostly on month-end flows but also hopes that a Greek aid package will be fashioned soon. The greenback lost 0.6% against the euro, Swissy and kiwi and 0.3% against the Canadian dollar. It is unchanged against sterling, however, and up 0.5% versus the yen. U.S. 1Q10 GDP data arrive later today. Asian […] More
