Archive for February 2nd, 2009

Expecting Another Australian Rate Cut of At Least 100 Basis Points

February 2, 2009

At 03:30 GMT on Tuesday, the Reserve Bank of Australian will unveil its fifth rate reduction in five months.  The cash rate peaked at 7.25% but will sink to a near 50-year low of 3.25% or below.  There were previous cuts of 100 basis points in December and October, 75 bps in November and 25 […] More

Currency Markets in the News

U.S.-Euroland Factory Sector: U.S. Improved Relatively in January

February 2, 2009

Manufacturing continued to drop sharply in January both in the United States and Euroland.  The further that PMI readings are below 50, the more steeply that activity is contracting, so the rate of deterioration was less pronounced in both regions last month than in December.  Also, the U.S. economy saw a bigger improvement than Euroland […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Stocks in Europe and Asia Much Lower

February 2, 2009

Share prices are down by 2.9% in Italy, 2.8% in France, 2.5% in Germany, 2.2% in Britain and 1.7% in Switzerland. Earlier, they closed off by 1.5% in Japan, 3.1% in Hong Kong, 3.8% in India, 2.4% in Singapore, 1.9% in Vietnam, 1.3% in South Korea and 1.2% in Australia. Currency movements overnight also reflect […] More