Archive for September 23rd, 2008

Currency Markets in the News

Euroland Activity Contracted More Sharply in September Than August

September 23, 2008

Euroland’s composite PMI reading in September fell after a small rebound and was also below the July reading.  A score above 50 is needed to connote expanding activity, so September’s result implies an intensifying slowdown.  September readings for the total composite PMI, its orders component, both the output and input price components, and for total […] More

Lingering Worries in Latest Canadian August CPI Data

September 23, 2008

Although total consumer prices in Canada dipped 0.2%, the first drop in seven months, the drop was not a surprise because gasoline prices slumped 6.6%.  Other elements of today’s release will keep make Bank of Canada officials reluctant to cut interest rates just yet.  Targeted core CPI rose 0.3% versus an expected 0.1% uptick and […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: September Ezone Flash PMI Shows Weaker Activity

September 23, 2008

The dollar is mostly lower, with drops of 0.4% against the kiwi, 0.3% against sterling, 0.2% against the Australian dollar and yen, and 0.1% against the Canadian dollar.  EUR/USD is unchanged, however, and the dollar is up 0.2% against the Swiss franc. Japanese markets were closed for the autumn equinox holiday. Ten-year sovereign bond yields […] More