Currency Markets in the News
Japanese Industrial Production: Three Straight Drops Likely
July 30, 2008
Industrial output in the world’s second largest economy recorded identical 0.7% quarterly declines in 1Q08 and 2Q08. The second quarter ended limply, with production dropping 2.0% m/m in June and eking out a 12-month increase of just 0.2%. Every month, Japan’s Ministry of Economy, Trade and Industry releases forecasts of industrial production in the coming […] More
Oil
Bastille Day Oil Price Coincidence
July 30, 2008
Some dispute exists over the date and level of the latest and all-time record high in oil prices. One camp cites $147.27 on July 11th, but another view puts the peak at $147.91 per barrel on July 14th. Coincidentally, Bastille Day in 2006 saw oil prices crest at of $78.40, a record high that stood […] More
Canadian Producer Prices Dissected
July 30, 2008
Producer price inflation in June stemmed entirely from either higher oil prices or a softer Canadian dollar. Total producer prices went up 1.3% between May and June. 0.7 percentage points of that increase was attributable to oil and coal, which increased 6.1%, and another 0.5 ppts stemmed from C-dollar depreciation. PPI inflation in the year […] More
Currency Markets in the News
Previewing Euroland Producer Prices in June
July 30, 2008
Producer prices advanced 7.1% in the year to May, the most since such data began to be collected in 1990. June figures, which get released on Monday at 10:00 GMT, will show an even higher on-year PPI inflation rate of about 7.8% despite a lower monthly increase than May’s 1.2%. I expect a 0.8% monthly […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad: Biggest Tumble in Euroland Sentiment Since October 2001
July 30, 2008
Overnight changes in the dollar are mixed. Its greatest drop was against sterling (-0.5%), but gains were posted of 0.6% against the Aussie dollar and 0.5% against the kiwi. The dollar slid 0.2% against the yen and by 0.1% versus the Canadian dollar but firmed 0.1% relative to the Swiss franc. EUR/USD unchanged. The ten-year […] More
