Archive for July 2nd, 2010

Deeper Analysis

Few Thoughts on Today’s U.S. Jobs Numbers

July 2, 2010

A downshift in U.S. employment growth occurred longer ago than generally realized.  Over the forty years from January 1949 until January 1989, jobs expanded at a 2.2% annualized rate.  Among the last four presidencies, only Bill Clinton’s stewardship saw a faster rate of job creation, 2.4% per annum.  Jobs went up 0.6% per annum when […] More

Foreign Exchange Insights and Next Week

Next Week

July 2, 2010

Because of the U.S. Independence Day observance on Monday, investors will have to wait an extra day to see if the DOW’s losing streak is extended to seven consecutive sessions (and ten of the last eleven, a tiny 4-point uptick on June 23 being the exception).  The Monday holiday also means that the ISM non-manufacturing […] More

Foreign Exchange Insights and Next Week

Midyear Reality Check of the Currencies

July 2, 2010

At the very least, the dollar is in a pause.  During the week that bridged the second and third quarters, the dollar hit its weakest levels against sterling ($1.5231) and the Swiss franc (1.0581 per USD) since early May.  The euro posted a high today of $1.2613, its best level since May 21 and 6.2% […] More

New Overnight Developments Abroad - Daily Update

A Shift in Focus from Euroland to the United States

July 2, 2010

A watered-down, more politically palatable proposed tax on Australian mining was announced by the new prime minister.  The Aussie Dollar and kiwi are up 0.4% and 0.5% against their U.S. counterpart on relief that growth in Australia will not be damaged as much as feared previously. The Swiss franc retreated 0.5% against the dollar and […] More

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