Archive for August 22nd, 2008

Foreign Exchange Insights and Next Week

Foreign Exchange Insights: August 22nd

August 22, 2008

The dollar’s summer upswing still has some life.  It is ending this week on an up note, even though it showed modest to moderate net losses for the period against the euro, yen, Swissy, and key commodity currencies as of 13:30 GMT this morning.  Those losses look trivial, juxtaposed against two-week prior advances between August […] More

Revised British GDP Data Bleak

August 22, 2008

The headline blared that real GDP had failed to expand in 2Q08 for the first quarter since 2Q92 at the end of Britain’s last recession.  Actually if expressed at an annualized rate, that is the level of real GDP in 2Q compared to 1Q raised to the fourth power, there was marginal positive growth last […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Dollar Ending Week on Firm Note

August 22, 2008

The dollar has recorded overnight gains of 1.2% against the kiwi, 1.0% against sterling, 0.9% against the Australian dollar, 0.8% against the yen, 0.6% relative to the Swiss franc, 0.5% against the euro and 0.3% against the Canadian dollar. Oil (down 0.4% to $120.72/barrel) and gold (-0.3% to $836.60 per ounce) came off yesterday’s highs. […] More