Central Bank Watch
ECB Preview
May 4, 2011
The Bank of England and ECB policy announcements are once again scheduled for the same Thursday, the BOE at 11:00 GMT and the ECB some 45 minutes later. President Trichet’s press conference starting at 12:30 GMT is a highly anticipated event because opinion is split over whether the next rate hike by the bank is […] More
Central Bank Watch
Bank of England Preview: No Changes Expected
May 4, 2011
The Bank of England will announce monetary policy decisions at 11:00 GMT on Thursday following this month’s two-day meeting. Only in the remote chance of modified policy parameters, which I do not expect to happen, will the broadcast statement include more than the basics, namely the Bank Rate level, the ceiling on the asset purchase […] More
Deeper Analysis
PMI Data Show Big Swing in Europe’s Favor
May 4, 2011
In January of this year, the United States purchasing manager survey indices in both manufacturing and services exceeded their Euroland counterparts by 3.5 points each. Just three months later, it is Euroland’s service sector that enjoys a 3.5-point advantage over the United States, and the spread in manufacturing has narrowed by 1.1 points to +2.4 […] More
New Overnight Developments Abroad - Daily Update
Service Sector Purchasing Manager Surveys Released
May 4, 2011
Japan remained closed for Greenery Day, the third of four Golden Week holidays. Stocks fell by 2.6% in China, 2.4% in Pakistan, 1.3% in Singapore, 1.4% in Hong Kong and 0.9% in Australia and South Korea. The British Ftse is down 0.5%. The German Dax and Paris Cac are little changed, in contrast. The dollar […] More
