Archive for November 4th, 2008

Currency Markets in the News

EU Commission Projecting Sub-Potential Growth In 2009-10

November 4, 2008

The EU Commission released new semi-annual growth forecasts yesterday that are both pessimistic and overly optimistic. Quarter-on-quarter non-annualized forecasts are provided out to the final quarter of 2010. The forecast for growth in the euro area envisages only three negative quarters, those being the final three quarters of 2008. The worst quarter in the forecast, […] More

Larry's Blog

What Else Is At Stake Besides the Presidency?

November 4, 2008

The entire House of Representatives, all 435 seats, are up for grabs. The Democrats are expected to extend their majority. A representative serves for 2 years. 35 of the Senate‘s 100 seats are being contest, including both of Wyoming’s. Republicans are defending twice as many seats (23) as the Democrats (12). A 60-vote majority is […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Markets Higher Awaiting U.S. Election Results

November 4, 2008

Stocks rose in Asia and Europe, and an increase is signaled at the U.S. open. Nikkei climbed 6.3%. Stocks advanced 3.7% in Vietnam, 2.8% in India, 1.7% in South Korea, 1.9% in Thailand and 1.3% in Indonesia. Some Asian markets fell, however, like Singapore (-2.9%) and China (-1.6%). In Europe, the Paris Cac, German Dax, […] More

Central Bank Watch

Reserve Bank of Australia Cuts Cash Rate By Another 75 Basis Points

November 4, 2008

A reduction of the cash rate to 5.25% from 6.0% surpassed consensus expectations for a 50-basis point rate cut. The 100-basis point cut in October also was greater than expected. Within just two months, the Reserve Bank has unwound two-thirds of the 300 basis points of tightening that took five years and ten months to […] More