Archive for July 1st, 2011

Foreign Exchange Insights and Next Week

Next Week

July 1, 2011

Central Bank policy meetings next week are scheduled in Australia, Sweden, Poland, Mexico, Malaysia, Britain and, most importantly, the euro area where a highly probably second interest rate increase has been signaled.  U.S. markets will be closed on Monday.  Service sector purchasing manager reports are due from the United States, euro area, Germany, China, France, […] More

Foreign Exchange Insights and Next Week

Midyear Currency Check

July 1, 2011

The most recent chapter of the Greek sovereign debt crisis, like earlier episodes, was handled in a very messy fashion from all respects.  European leaders again treated symptoms, not causes, and after much brinkmanship addressed the immediate problems but probably bought only a little respite.  The Greek socialist government has scant credibility, and neither do […] More

Deeper Analysis

U.S.-Ezone Manufacturing Spread Swings Sharply in America’s favor

July 1, 2011

In June, the U.S. factory purchasing managers index climbed 1.8 points to 55.3, while its Euroland counterpart weakened by 2.6 points to 52.0.  U.S. manufacturing thus grew faster than Euroland’s for the eighth time in the last nine months, the one exception occurring in May when the latter index surpassed the U.S. gauge by 1.1 […] More

New Overnight Developments Abroad - Daily Update

Data Deluge on First Day of Third Quarter

July 1, 2011

The dollar edged up 0.1% against the euro and is trading below 1.45/EUR after touching an overnight low of $1.4553.  The euro’s high in June was $1.4696. Greece has averted a default for now with the positive austerity votes of Wednesday and Thursday.  The Swiss franc has dropped 0.6% against the dollar and 0.5% against […] More

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