Foreign Exchange Insights and Next Week
Next Week
September 23, 2011
Central banks in Israel and Romania hold interest rate policy meetings in the final week of the third calendar quarter of 2011. A couple of EMU member parliaments will be voting on the EFSF reforms, notably Germany’s. Scheduled euro area data include money and credit growth, unemployment, preliminary September consumer prices, business and consumer sentiment, […] More
Foreign Exchange Insights and Next Week
Unlikely to Stop the Risk Aversion Express
September 23, 2011
Risk aversion, which benefits the dollar and yen, has taken hold of all financial markets, and confidence-boosting factors are nowhere in sight. First, the economic backdrop among advanced industrialized nations recently began a fifth year of bleakness. Substantial balance sheet deleveraging remains to be done, and these economies still cannot sustain recoveries without macroeconomic support. […] More
New Overnight Developments Abroad - Daily Update
Only a Brief Respite after G20 Communique
September 23, 2011
Today is the first day of the semi-annual IMF/World Bank meetings in Washington. G20 finance ministers and central bankers released a statement overnight that promised a coordinated response to five identified downside risks: Contagion from sovereign debt stresses. Financial systems fragility. Market turbulence. Weak economic growth. Unacceptably high unemployment. European share prices initially rose after […] More
