Archive for June 2011

Deeper Analysis

Bank of Japan Tankan Survey Results a Mixed Bag

June 30, 2011

10,997 companies participated in the latest quarterly survey of Japan’s central bank.  In the table below which documents the evolution of results, abbreviations used in the first four columns of data stand for big manufacturers (Bm), big non-manufacturer (Bnm), small manufacturers (Sm) and small non-manufacturers (Smn).  Where no “a” or “f” suffix is shown after […] More

Deeper Analysis

June and Second Quarter in Figures

June 30, 2011

Despite great concern about Euroland’s peripheral members, the euro advanced against the dollar in both June and the second quarter.  Among currencies monitored below, the dollar only rose against sterling during June, but the rate of yuan appreciation was much slower than in April or May.  Three-month Euribor rates edged higher in anticipation of a […] More

Deeper Analysis

Canada Experiencing Higher Inflation But Softer Growth

June 30, 2011

May consumer price data released yesterday revealed an acceleration of inflation to a 12-month increase of 3.7%, up from 3.3% in April and the most since March of 2003.  The annualized increase of the seasonally adjusted total consumer price series between December and May was also 3.7%.  A 2.4% December 2010 versus December 2009 increase […] More

New Overnight Developments Abroad - Daily Update

Mid-2011 Sees Euro Touch $1.4523

June 30, 2011

Today ends the month of June and second quarter.  QE2 expires in the United States.  The euro has firmed 0.3% on balance to $1.4475 but broke above $1.4500 in earlier overnight trading.  Today is an active day from a data release stand-point.  A second critical Greek vote of approval is need today, this time to […] More

Deeper Analysis

Euroland Growth at a Glance

June 29, 2011

The euro area economy lost momentum late in the second quarter but continued to expand on the whole.  The table below looks at five key data series, comparing June readings to second-quarter average scores, first-quarter averages, December 2010 results, and lows reached in late 2008 or early 2009.  The indicators are Euroland’s composite purchasing managers […] More

Central Bank Watch

Romanian Monetary Policy Kept Unchanged

June 29, 2011

Romania’s monetary policy rate has been 6.25% since May 2010 and will remain at that level until at least the next meeting on August 3.  The central bank has not yet begun tightening, even tough CPI inflation of 8.4% as of May is twice as high as its level at the time of the May […] More

New Overnight Developments Abroad - Daily Update

Dollar Down Ahead of Greek Vote on Austerity Later Today

June 29, 2011

The euro topped $1.4400 for the first time in a week and is 0.4% higher on balance.  The dollar has also lost 1.2% against the kiwi, 0.6% relative to the Australian dollar, 0.5% versus the Canadian dollar, 0.2% against sterling, and 0.1% relative to the yuan.  Dollar/yen and dollar/Swiss are unchanged. Dollar/Swiss was as weak […] More

Larry's Blog

Price Matters

June 28, 2011

Turn on the radio to catch a weather report, and it’s there.  Switch to a ball game; it’s there too.  Put on your favorite TV show, and it’ll soon be in your face.  Go to the supermarket where background noise tends to be musical, and just wait. Sure enough, an interruption to bring you the […] More

Deeper Analysis

British 1Q GDP and Current Account

June 28, 2011

U.K. real GDP rose 0.5% in the first quarter.  This rounded rate of growth according to the second revision of the national income accounts was the same as calculated previously, but the on-year rate was revised downward to 1.6% from 1.8%.  Personal consumption, business final capital fixed investment, and inventories made negative contributions to the […] More

New Overnight Developments Abroad - Daily Update

Austerity Vote by Greek Parliament Delayed to Wednesday

June 28, 2011

The dollar is narrowly mixed, showing gains of 0.2% against sterling and 0.1% versus the euro, kiwi and Canadian dollar but losses of 0.3% against the Swiss franc, 0.2% relative to the yuan, Aussie dollar, and Japanese yen. Equities rose overnight by 0.7% in Japan, 0.4% in India and Indonesia, 0.3% in Australia, 0.2% in […] More

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