Deeper Analysis
September and Third Quarter in Figures
September 30, 2010
The dollar performed poorly in September and the third quarter especially against the euro and Australian dollar. A look at the table below makes it hard to argue that Japan’s intervention failed. The yen’s rise against the dollar of less than 1.0% was much smaller than the advance of other currencies. China finally put its […] More
Deeper Analysis
North American GDP and Unemployment
September 30, 2010
Canada and the United States released subdued GDP figures today. Canadian July GDP slipped 0.1%. Although negative growth in July had been expected, this was the first decline in eleven months, and weakness was pervasive. Manufacturing and construction respectively contracted by 0.7% and 0.5%. Energy, utilities, retail and wholesale turnover fell by 0.6%, 0.4%, 0.5% […] More
Central Bank Watch
Taiwan Gets a Second Rate Hike
September 30, 2010
The Taiwanese central bank benchmark rate was lifted by 12.5 basis points to 1.5%. This as-expected move follows one of similar size undertaken on June 24. The rate had been at a 55-year low of 1.25% following seven reductions totaling 362.5 basis points administered from June 2008 through February 2009. Taiwan has no consumer price […] More
New Overnight Developments Abroad - Daily Update
Third-Quarter Wind-Down
September 30, 2010
Many data releases arrived on this final day of the third calendar quarter. Sentiment is better toward Europe and more guarded about Japan and the United States. ECB 12-month and 6-month loans totaling EUR 93 billion are expiring. EUR 28 billion of 3-month ECB liquidity is not getting rolled over, as a EUR 104 billion […] More
