Archive for February 26th, 2009

Currency Markets in the News

Today's U.S. Economic Data

February 26, 2009

New jobless claims are a gauge of the layoff rate and therefore a leading indicator of future consumer spending and GDP growth.  What took almost five months for the layoff rate to climb about 100K from 440K on average in the four weeks to September 6th to 543K on average in the four weeks to […] More

Long-Term Dollar Trend

February 26, 2009

The Bretton Woods agreement of 1944 established dollar-gold convertibility and fixed dollar parities against other major currencies that were to be defended with intervention.  A deteriorating U.S. balance of payments in the 1960’s caused by heavy domestic programs and escalation of the Vietnam War was draining U.S. gold holdings and putting the fixed exchange rate […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Softer Dollar and Yen

February 26, 2009

The dollar rose 0.3% against the yen but lost 0.7% against the Swiss franc, 0.5% against sterling, the euro and Australian dollar, 0.4% against the Canadian dollar and 0.3% against the kiwi. Dollar/yen of 98.0 was the strongest such has been since mid-November. Stock markets overnight have traded mixed. The Nikkei closed unchanged. Singapore’s market […] More