Archive for July 9th, 2010

Foreign Exchange Insights and Next Week

Next Week

July 9, 2010

Analysts do not expect scheduled central bank meetings in Japan, Turkey, Thailand, Mexico or the Philippines to sanction a change in interest rates.  Sweden’s Riksbank will be releasing minutes of its last meeting.  The ECB Bulletin arrives, and the Bank of Japan reports its latest economic assessment.  EU finance ministers hold a meeting to discuss […] More

Foreign Exchange Insights and Next Week

Currencies More Sensitive to Global Growth Than Growth in Particular Economies

July 9, 2010

A more resilient euro has coincided with better-than-expected European data, but the rise from $1.1878 in early June doesn’t reflect strong confidence the short-term to medium-term economic outlook for the region.  Industrial production during May recorded monthly advances of 2.6% in Germany, 1.7% in France, 1.0% in Italy, 2.6% in Sweden and 0.7% in Britain.  […] More

Deeper Analysis

A Very Hot Canadian Labor Market

July 9, 2010

Canadian jobs jumped 93.2K last month, which is the same percentage increase as a 707K increase of U.S. non-farm payroll employment.  A broadly-based increase of service sector jobs accounted for the entire rise.  Over the three months of the second quarter, service-sector employment rose 7.5% at an annualized rate, and overall Canadian employment went up […] More

Central Bank Watch

Bank of Korea

July 9, 2010

Bowing to the reality of a strong domestic recovery — real GDP grew in the first quarter by over 8% both from 4Q09 annualized and from 1Q09 — the Bank of Korea finally implemented a rate increase of 25 basis points in its seven-day repo rate to 2.25%.  However, in deference to slack property prices, […] More

New Overnight Developments Abroad - Daily Update

Stronger Dollar Against Euro, Yen and Swiss Franc

July 9, 2010

The dollar has risen 0.5% against the Swissy, 0.3% versus the yen, euro, and Aussie dollar, and 0.1% relative to the Canadian and New Zealand dollars.  The dollar is stable against sterling and the yuan.  The U.S. Treasury Department’s 3-month delayed semi-annual foreign exchange report was released yesterday and did not declare China a “currency […] More

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