Foreign Exchange Insights and Next Week
Weekly Foreign Exchange Insights: September 5th
September 5, 2008
The dollar recovery continues, feeding in part off the failure of the economies of Japan and in Europe to withstand a U.S. slowdown. Several Japanese monthly indicators point to a better-than-expected start for that economy in the third quarter, but second-quarter growth is likely to get revised to negative growth in excess of 3.0% and […] More
Canadian Labor Market in August Better But Still Weak
September 5, 2008
Canada’s jobless rate held at 6.1%, and employment rebounded 15.2K, which exceeded consensus expectations. Hourly wages rose 3.8% from August 2007, the first sub-4.0% result since July 2007. The increase in jobs followed a stunning 55.2K plunge in July and a 5.0K decline in June, and such left annualized employment growth over the past four […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Global Flight to Safety
September 5, 2008
Equities Sold off in Asia and Europe. Nikkei -2.8%. Hong Kong -2.2%. China -3.0%. India -2.8%. Vietnam -2.1%. Indonesia -2.5%. European bourses down by 1.3 -1.5%. The 10-year JGB yield sank 8.5 basis points to 1.435%. Other sovereign bond yields are lower across the board. The dollar jumped another 1.4% against the Australian dollar and […] More
