Archive for September 9th, 2010

Deeper Analysis

Japanese 2Q Real GDP Growth Revised Up to 1.5% Annualized from 0.4%

September 9, 2010

Japanese growth last quarter wasn’t as bad as reported initially but still represented a significant deceleration of activity.  Real GDP rose 1.5% at an annualized rate (saar), down from 5.0% in the first quarter and 3.4% in the final quarter of 2009.  Notable revisions occurred in non-residential investment to 6.2% saar from 1.9% reported initially, […] More

Central Bank Watch

South Africa Gets an Eighth Interest Rate Cut

September 9, 2010

With an as-expected 50-basis point repo rate reduction to 6.0% announced today, the South African Reserve Bank has in eight steps now halved its repo rate.  Six of the moves totaling 500 basis points were implemented between December 2008 and August 2009.  No changes were made at the subsequent four policy meetings including the first […] More

Deeper Analysis

July Trade Data Roundup

September 9, 2010

U.S. and Canadian July trade figures, released today, offered a very stark contrast in absolute terms and relative to market expectations. The U.S. goods and services deficit contracted 14% from June’s elevated $49.8 billion but was nonetheless the second biggest shortfall of 2010 and $1.77 billion greater than the first-half average deficit of $41.0 billion […] More

Central Bank Watch

Bank of England Retains Status Quo

September 9, 2010

The Bank of England announced no policy changes and will let published minutes of its monthly meeting on September 22 do all the explaining of its latest thinking.  The Bank Rate has been at 0.5% since March 2009, and the asset purchase program was last raised in November 2009 by GBP 25 billion to the […] More

New Overnight Developments Abroad - Daily Update

Mixed Dollar

September 9, 2010

The dollar advanced 0.4% against sterling and 0.2% versus the Swiss franc.  The greenback is also steady against the euro and down by 0.8% against the Australian dollar, 0.5% against the kiwi, 0.3% against the yen and loonie, and 0.1% vesus the Chinese yuan. Equities in the Pacific Rim fell by 1.8% in China but […] More

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