Archive for October 15th, 2010

Foreign Exchange Insights and Next Week

Next Week

October 15, 2010

A busy week for meetings lies ahead.  Interest rate policies will be decided in Canada, Brazil, Thailand, and Sweden.  EU finance and economics minister, also known as Ecofin, have a meeting in Brussels, and so do the central bank chiefs and finance ministers of the Group of Twenty in Seoul, Korea.  The Fed Beige Book […] More

Foreign Exchange Insights and Next Week

Betting Short Term and Long Term Against the Dollar

October 15, 2010

Currency market sentiment can change radically in a hurry.  Traders were extremely pessimistic about the euro in the spring of 2010, not merely predicting extensive depreciation but also the end of the common European currency as we know it, with both the peripheral members and Germany speculated objects of defection.  By early June, the dollar […] More

Central Bank Watch

Mexican Monetary Policy Not Changed

October 15, 2010

The Bank of Mexico, as predicted, made no change in its overnight interbank funding rate, which has been at 4.5% since 375 basis points of reduction implemented during the first seven months of 2009.  A statement from officials is fairly dovish in tone, observing that inflation has been under target for two quarters reflecting peso […] More

New Overnight Developments Abroad - Daily Update

Dollar Narrowly Mixed Ahead of Bernanke Breakfast Speech

October 15, 2010

The dollar is up 0.2% against the kiwi and loonie, up 0.1% against the Swiss franc, unchanged relative to the euro and Australian dollar, down 0.1% against the yuan, and 0.3% weaker against the yen and sterling.  Aside from the speeches by Bernanke, Lockhart and former Fed Vice Chairman Kohn, the United States will be […] More

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