Currency Markets in the News
Watch the Second Derivative of Euroland Growth
July 24, 2008
It was no surprise that Euroland growth slowed in early spring. Special factors like a mild winter had strengthened growth in 1Q08 to an unsustainable speed, and Europe faced numerous headwinds: tighter credit conditions, more expensive energy costs, weakening demand in export markets, and an overvalued euro. Officials at the ECB have admonished market watchers […] More
Currency Markets in the News
Euroland Balance of Payments Suggests A Weaker Euro
July 24, 2008
The current account in Euroland was in deficit in three of the first five months of 2008, and the January-May combined current account was also in the red to the tune of a mild EUR 5.8 billion. That amount was similar to the seasonally non-adjusted five-month sum of EUR 5.4 billion, representing an adverse swing […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad: G7 Heading For Recession?
July 24, 2008
The dollar advanced 1.1% against the kiwi and 0.6% against sterling but otherwise shows little overnight change. Stocks in Asia widely mixed: Japanese Nikkei up 2.2%, China +3.3%, Philippines +3.0%, Vietnam -2.2%, India -1.1%, and Hong Kong -0.2%. Australia +0.8%. Stocks lower in Europe: German Dax -1.0%. Paris Cac -0.6%. U.K. Ftse -0.5%. Ten-year sovereign […] More
