Foreign Exchange Insights and Next Week
Next Week
June 1, 2012
Central bank interest rate policy meetings are scheduled next week at the European Central Bank, Bank of England, Bank of Mexico, Bank of Canada, Reserve Bank of Australia, Central Reserve Bank of Peru, and National Bank of Poland. Fed Chairman Bernanke testifies in Congress on Thursday. British markets will be closed Monday and Tuesday as […] More
Foreign Exchange Insights and Next Week
Will May’s Strong Currency Moves Extend Into June?
June 1, 2012
The euro remains a currency in crisis. It took a terrible beating in May, plunging 8.3% against the yen and 6.6% relative to the dollar. Euroland’s economy is caught in a self-inflicted trap. Zombie banks are losing deposits. Many members are in recession, some severely so, and no politically feasible policy remedies in the short […] More
Deeper Analysis
U.S. and Ezone Manufacturing Conditions Worse in May than April
June 1, 2012
According to the ISM survey of U.S. manufacturing purchasing managers, activity expanded last month for the 34th straight time but at a slower pace than in April and January. In Euroland, factory-sector activity contracted for the tenth straight month and at a faster speed since June 2009. PMI readings above 50 denote expansion, while sub-50 […] More
New Overnight Developments Abroad - Daily Update
Stocks, Bond Yields and Euro Slide Again
June 1, 2012
The German Dax and Paris Cac have traded 2.2% and 1.5% lower, while the British Ftse is off 0.8%. Japan’s Nikkei closed 1.2% weaker. Share prices also fell by 2.7% in Taiwan, 1.6% in India, 1.0% in New Zealand and Singapore, 0.9% in Indonesia, 0.6% in The Philippines, and 0.5% in Malaysia and South Korea. […] More
