Deeper Analysis
August in Figures
August 31, 2011
In August, risk aversion shot up. Gold soared, while share prices and sovereign bond yields fell sharply. Most commodity prices including oil fell, and so did commodity-sensitive currencies. USD/JPY and EUR/USD closed practically unchanged for the month. Swiss officials took steps to reverse the franc’s strength, enabling the dollar to advance 2.5% against the Swiss […] More
Deeper Analysis
Huge Deterioration of Canadian Growth and Current Account
August 31, 2011
Canada’s current account deficit widened 52.2% between the first and second quarters and to 3.6% of GDP from 2.4% of GDP. Net exports exerted a gargantuan 5.7 percentage point drag on GDP growth in the second quarter, as exports sank 8.3% annualized while imports advanced 10.0%. Consequently, real GDP unexpectedly contracted 0.4% annualized last quarter, […] More
New Overnight Developments Abroad - Daily Update
Stocks Rose as Heavy Data Flow Continued
August 31, 2011
Share prices advanced by 3.3% in Singapore, 2.4% in Thailand, 2.0% in South Korea, 1.6% in Hong Kong, 1.2% in Taiwan, 1.0% in the Philippines, and 0.6% in Australia but were flat in Japan where weaker-than-expected industrial output data got released. The German Dax, Paris Cac, and British Ftse have so far scored solid gains […] More
