Currency Markets in the News
Parity in Expected Growth
July 8, 2008
The latest monthly survey of forecasters by The Economist produced an identical consensus 2009 growth expectation of 1.3% for the United States, euro area and Japan. I cannot recall a previous time when expected growth was exactly the same for each of these economies. All of these forecasts were revised downward from the prior monthly […] More
Bank of England Preview: Interest Rate to Stay Unchanged
July 8, 2008
A two-day meeting of the Monetary Policy Committee (MPC) starts tomorrow and will culminate with no change to the 5.0% Bank Rate when the decision is announced on Thursday at 11:00 GMT. Three cuts were made of 25 basis points each last December, February and April, and the most dovish member of the MPC, Blanchflower, […] More
Currency Markets in the News
G7 Faith in Long-Term Dollar Fundamentals
July 8, 2008
The G7 summit did not produce a breakthrough on dollar management. The dollar was not explicitly mentioned in the Group’s joint statement. It’s wording conformed to what G7 finance ministers and central bankers have been saying. The main initiative involves emerging market currencies, which G7 governments do not control. President Bush keeps reiterating that his […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad: Financial Stocks Dive Worldwide
July 8, 2008
Equities fell 2.5% in Japan, 2.4% in Germany and Britain, 2.3% in France, 3.2% in Hong Kong, 3.9% in Taiwan, 2.9% in S. Korea, 1.2% in India, 1.1% in Indonesia, and 1.4% in Australia. China has been an exception to this selloff on sings the government is delaying higher taxes on natural resources. Banking and […] More
