Archive for July 2nd, 2008

Foreign Exchange Insights and Next Week

Foreign Exchange Insights: July 2, 2008

July 2, 2008

A contrarian views is gaining traction at midyear that the dollar may perform much better than feared especially against the euro in the second half of 2008.  In my experience, foreign exchange forecasts that take a non-consensus view need to be taken seriously.  These forecasts turn out correct surprisingly often, suggesting that one can do […] More

Currency Markets in the News

ECB Policy Meeting Preview

July 2, 2008

The ECB will announce an increase of its policy rates, including a 4.0% refinancing rate, at 11:45 GMT on Thursday and foreshadow likely policy in 2H08 at a press conference beginning at 12:30 GMT.  This will be the first rate increase in 13 months.  All eight increases between December 2005 and June 2007 were by […] More

New Overnight Developments Abroad - Daily Update

New Developments Abroad: Euroland Producer Prices Up Record 7.1% in Year to May

July 2, 2008

The U.S. dollar is mixed with gains of 0.5% against sterling and the yen and of 0.2% against the Swiss franc, but losses of 0.5% against the Aussie dollar, 0.4% against the euro and 0.1% against the Canadian dollar. The Nikkei’s 1.3% drop was its 10th consecutive losing session, the longest such down-streak in 43 […] More