Archive for July 14th, 2008

Larry's Blog

A Very Busy Tuesday Ahead

July 14, 2008

Aside from the Japanese and Canadian central bank policy rate announcements previewed earlier, Fed Chairman Bernanke’s first day of Humphrey-Hawkins testimony to Congress begins at 14:00 GMT.  A considerable slate of data get released as well tomorrow in Europe: the RICs house price gauge and consumer prices from Britain, French business sentiment and current account […] More

Preview of Canadian Interest Rate Policy Announcement: 3.0% to Be Retained

July 14, 2008

The fifth of eight scheduled interest rate announcements in 2008 is set for the usual 13:00 GMT hour on Tuesday.  My forecast of no change in the 3.0% rate is the same as the consensus.  Like most other economies, Canada is tasting a mild case of stagflation, and no near-term rate changes are anticipated.  Consumer […] More

Currency Markets in the News

Preview of Japanese Interest Rate Policy Decision

July 14, 2008

Sometime around midnight on the U.S. east coast tonight, the Bank of Japan will announce no change in its 0.5% overnight money target.  This decision will extend the time frame for this target level to 18 months, and the status quo probably will be retained at least until the end of this year.  BOJ Governor […] More

New Overnight Developments Abroad - Daily Update

New Developments Abroad: U.S. Treasury and Fed Announce Steps to Boost Big Mortgage Lenders

July 14, 2008

The dollar firmed 0.8% against the Swiss franc, 0.5% against the euro and yen, and 0.2% versus sterling.  The kiwi and C-dollar are flat.  A-dollar rose 0.2%. Freddie Mac and Fannie Mae shares traded higher in Europe after U.S. government promise to channel funds to them. The Dax (+1.0%) and Ftse (+1.4%) are higher.  Earlier […] More