Archive for June 30th, 2008

Currency Markets in the News

Preview of Bank of Japan Quarterly Business Survey

June 30, 2008

The Tankan survey gets released at 23:50 GMT tonight and is expected to reflect an additional deterioration of business conditions, the weakest capital spending plans in six years, and scant profits.  The diffusion indices of business conditions in the March 2008 survey had their weakest values since 4Q03 for both large and small manufacturers.  The […] More

Australian Monetary Policy Preview

June 30, 2008

At 04:30 GMT on Tuesday, the Reserve Bank of Australia will announce results of its July policy meeting.  One can bet the ranch that the cash rate is held at 7.25%.  Like their counterparts in many other economies, monetary officials are balancing excessive inflation against a slowing domestic economy.  CPI data due July 23rd will […] More

Canadian GDP Improved in April

June 30, 2008

Real GDP in Canada grew 0.4%, led by increases of 2.1% in wholesale trade, 1.9% in factory output, and 0.6% in retail sales.  April’s improvement failed to offset fully negative growth in both February and March.  GDP fell 0.4% at an annual rate during the six months to April and advanced only 1.2% from April […] More

New Overnight Developments Abroad - Daily Update

New Developments Abroad: Oil Again Soaring And Dollar Soft

June 30, 2008

Oil (142.88/barrel) is 1.9% above Friday’s closing level and near the $142.99 record high.  Gold firmed 0.4% to $935.40/ounce. The U.S. dollar shows fresh losses of 0.8% against the Australian dollar, which hit its strongest level since February 1983, and the yen.  The buck also lost 0.6% against the kiwi, 0.3% against the Canadian dollar […] More