Archive for January 22nd, 2009

Currency Markets in the News

Global Great Recession

January 22, 2009

The array of data released today showcases the global component of the economic downturn.  Japanese exports to the EU, U.S., and Asia fell by 41.8%, 26.6% and 36.4% in the year to December.  Japan’s 2008 trade surplus of Y 2.16 trillion was 78% smaller than the average annual surplus during the previous four years. On-year […] More

Central Bank Watch

Bank of Japan Press Conference

January 22, 2009

Bank of Japan officials retained a rate target of 0.1% and released a number of documents that fleshed out several actions to alleviate extremely stressful corporate financing conditions. All of such were as expected.  Monetary officials spoke loudest with new price and growth forecasts, updating estimates made at the end of October.  New point projections […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Stocks Rally Despite Some Awful Data

January 22, 2009

Stocks rose 1.9% in Japan, 1.6% in Thailand, 1.3% in the Philippines, and 1.3% in Australia.  They are trading higher by 1.5% in France and Britain and by 1.3% in Germany. The inspiration for these gains came from yesterday’s better tone in U.S. shares and despite more evidence of profound economic weakness. The dollar has […] More