Archive for August 6th, 2008

New Overnight Developments Abroad - Daily Update

New Developments Abroad: More Bad News from Germany, Britain and Japan

August 6, 2008

The U.S. dollar is mixed, showing gains of 0.5% against the kiwi, 0.2% versus the yen and 0.1% against the C-dollar but losses of 0.2% against the Swiss franc and 0.1% relative to the euro.  It is unchanged against sterling and the Australian dollar. Stocks rose 2.6% in Japan, 3.1% in Australia, 3.1% in Taiwan, […] More

Currency Markets in the News

Preview of Bank of England and ECB Rate Decisions

August 6, 2008

On Thursday at 11:00 GMT, I’m confident that the Bank of England will announce an unchanged 5.0% bank rate and even more certain that the ECB will follow suit by keeping its 4.0% refinancing rate 45 minutes later.  The Bank of England does not release a statement immediately when it fails to change policy.  Minutes […] More