Archive for December 1st, 2008

Australian Central Bank Rate Cut Forecast: 100 Basis Points

December 1, 2008

A drop of 100 basis points to 4.25% is near the high end of expectations. There were earlier easings of 25 basis points on September 2nd, 100 bps on October 7th, and 75 bps on November 4th. 4.25% would match the previous cyclical low from December 2001 to May 2002. The debate at the November […] More

Currency Markets in the News

Manufacturing Deteriorated Less Sharply in the U.S. Than Europe

December 1, 2008

The U.S. PMI-manufacturing index dropped 2.7 points to 36.2 in November, whereas that indicator’s counterparts fell by 5.5 points to 35.6 in Euroland and 6.3 points to 34.4 in Britain. The Swiss index decreased 11.8 points to 35.2, and Sweden’s dropped by 5.9 points to 33.1. For each of these diffusion indices, a score of […] More

Canadian Real GDP Expanded 1.3% saar Last Quarter

December 1, 2008

Real GDP rose 1.3% at a seasonally adjusted annual rate in 3Q08 but only 0.5% from 3Q07 due to a flat first half this year. Growth rates in 1Q08 and 2Q08 were each revised slightly higher to -0.6% saar and +0.6% saar. Real GDP had advanced 3.1% in the year to 3Q07. U.S. real GDP, […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Yen Soared and Stock Prices Swoon

December 1, 2008

Stocks in Europe are down by 3.3% in Germany, 3.2% in Italy, 2.7% in Sweden, 2.6% in Switzerland, 2.5% in France, and 2.2% in Britain. They fell 1.6% in Australia, 1.4% in Japan, 2.7% in Thailand, 2.8% in India, 1.5% in Indonesia, 1.6% in South Korea, 2.4% in Singapore and 2.0% in Malaysia. Chinese equities […] More