Canadian Inflation Not a Problem
May 20, 2008
Canadian April CPI figures, due at 11:00 GMT on Wednesday (07:00 EDT), are expected to replicate the benign and sub-target 1.4% posted in the year to March. Trend has been even lower. During 1Q08, that is between December and March, Canadian consumer prices increased merely 0.7% at a seasonally adjusted annual rate, which was […] More
Oil
Rapidly Accelerating Oil Price Gains
May 20, 2008
The first forecast I ever heard that oil prices would climb above $100 was made by T. Boone Pickens when prices were only about half that high. Today’s new prediction by him that we’ll see oil at $150/barrel later this year doesn’t sound so non-sensible after seeing that earlier projection come true. Rising costs for […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad
May 20, 2008
Remarks by IMF Deputy Managing Director Lipsky sent the dollar sharply lower. He warned of continuing financial market risks posed by the U.S. housing market and said some Asian currencies remain undervalued, implying the dollar’s adjustment has not run full course. Overnight dollar losses amount to 1.3% against the Swissy, 1.0% against sterling, 1.1% against […] More
