Currency Markets in the News
German Growth Deconstructed
May 27, 2008
Details of the 1.5% first-quarter jump in German real GDP (6.3% saar) were released today. With that spurt, on-year growth over the past eight quarters has averaged 2.9%. 2006 had been a stronger year than 2007, with faster growth in all four quarters than in the corresponding quarter of 2007. But that trend toward less […] More
Three Factions at the Bank of England
May 27, 2008
British monetary policy is decided by a committee of nine people, who as in many other G7 economies are challenged by weakening growth prospects as well as intensifying inflation. Of the last eight monthly policy meetings, only one resulted in a unanimous decision. Mr. Blanchflower was more dovish than the majority at the other seven […] More
Doubts Rise Bank of Canada Will Ease in June
May 27, 2008
Despite indications that Fed easing is on hold, a 25-bp rate reduction by the Bank of Canada on June 10th had been perceived as highly probable. Real GDP had risen just 0.8% saar in 4Q07. Wholesale turnover had declined in both 4Q07 (-0.3%) and 1Q08 (-0.8% from 4Q and -0.4% from 1Q07). Canada’s index of […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad
May 27, 2008
New burst of carry trading is reflected in the dollar’s drop of 0.3% against the kiwi, 0.2% versus the CAD and 0.1% against the Aussie dollar, juxtaposed against USD gains of 0.5% against the yen, 0.2% against the Swissy and 0.1% against the euro. USD also up 0.3% against sterling. Ten-year JGB yield hit a […] More
