Archive for March 4th, 2009

School Graduates and Jobs

March 4, 2009

Markets are bracing for a bigger loss in U.S. employment in February than any so far this cycle including drops of 598K in January, 577K in December and 597K in November.  Unemployment conceivably might reach 8% in Friday’s report.  As dismaying as these figures would be, worse news may lurk ahead when college graduates enter […] More

Currency Markets in the News

U.S. Economy Contracting Less Sharply Than Euroland Economy

March 4, 2009

Euroland and the United States each experienced a faster drop in service-sector and overall activity last month than in February.  However, the second derivative depicted in the columns labeled “spread” below indicates relative U.S. improvement for a third consecutive month.  The United States has not enjoyed an advantage as great as now in more than […] More

Central Bank Watch

50-Basis Point Rate Cuts Announced in Indonesia and India

March 4, 2009

Bank Indonesia reduced its benchmark interest rate by 50 basis points to 7.75%.  Many analysts thought the cut would be by only 25 basis points. This was the fourth reduction since November 6th when the rate fell 25 bps to 9.25%.  A second and third cut on January 7 and February 4 were by 50 […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Dollar Sets 2009 Highs Against Yen and Euro

March 4, 2009

The dollar touched Yen 99.48 and 1.2459 per euro, each constituting the greenback’s highest levels of 2009. The dollar is mixed overall, gaining 1.1% against the4 yen, 0.5% against the euro, and 0.4% against the Swissy but also losing 0.8% against the kiwi, 0.4% against sterling, 0.3% against the Australian dollar and 0.2% against the […] More