Archive for December 1st, 2010

Central Bank Watch

ECB Preview

December 1, 2010

Thursday’s ECB press conference is atypically significant for a variety of reasons.  These events used to be all about what refinancing rate officials would announce.  That’s the easy part.  The rate has been at 1.0% since May 2009 and will not change tomorrow. Officials will update their growth and price forecasts for 2010 and 2011 […] More

Deeper Analysis

Factory PMI Results: U.S. Down and Euroland Up

December 1, 2010

The U.S. minus euro area purchasing managers survey in manufacturing fell to 1.3 points in November from 2.3 points in October, as the U.S. index slid by 0.3 points and Euroland’s index rose 0.7 points.  Average readings in October-November of 56.8 in the states and 55.0 in Euroland signify solid conditions in each region heading […] More

Central Bank Watch

Third Rate Hike in Thailand

December 1, 2010

The Bank of Thailand’s one-day repo rate was raised to 2.0% from 1.75%.  When rate normalization paused at the prior meeting on October 20 following 25-basis point rate increases at back-to-back meetings on July 14 and August 25, officials stressed global economic and financial uncertainties, but a new statement today claims that those uncertainties lessened […] More

New Overnight Developments Abroad - Daily Update

Weaker Dollar at Start of December

December 1, 2010

The dollar, which had posted strong gains in November, fell 1.0% against the euro, 0.7% versus the Canadian and Australian dollars, 0.6% against the kiwi, and 0.3% relative to sterling.  Asian demand ignited the move, which then drew in short-covering dollar sales.  The dollar climbed 0.4% against the yen and 0.1% versus the yuan and […] More

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