Archive for July 17th, 2008

Currency Markets in the News

Euroland Stunned by Expensive Energy

July 17, 2008

In May, Euroland energy prices jumped by 2.5% m/m.  Although the rest of the Bloc’s CPI went up just 0.1% and 1.8% y/y, total consumer price inflation accelerated to a new high of 4.0% y/y from 3.7% in May and 3.3% in April.  Increasingly, just energy — and not both food and energy — is […] More


Oil Corrections and Trend

July 17, 2008

Extreme volatility and unpredictability remain a fact of life for oil prices.  Market players have literally seen every kind of oil price movement since 1973 and can conceive of a further upswing toward $200/barrel or a huge correction back to $100 happening within the next six months or so.   To approach the above correction scenario […] More

New Overnight Developments Abroad - Daily Update

New Developments Abroad: Another Asian Central Bank Tightens

July 17, 2008

Yesterday it was the Bank of Thailand lifting its key rate by 25 bps to 3.5%.  Today, the Philippine Central Bank tightened by a greater-than-anticipated 50 basis points to 5.75% after doing 25 basis points in June.  CPI inflation in the Philippines exceeds 11% and is at a 14-year high. Aside from a 0.1% uptick […] More