Foreign Exchange Insights and Next Week
Next Week
March 13, 2009
Central bank interest rate meetings are scheduled next week at the Fed, Bank of Japan and in Turkey, Hong Kong, Mexico and Colombia. The Fed, BOJ and HKMA have run out of rate-reduction room, and policy initiatives now revolve around unconventional operations to ease liquidity strains, promote monetary growth and lower long-term interest rates. The […] More
Foreign Exchange Insights and Next Week
Weekly Foreign Exchange Insights: March 13th
March 13, 2009
The currency markets will be affected next week by the ebb and flow of risk aversion, actual and expected intervention, the approaching end of Japan’s fiscal year, and oil price developments. The yen, dollar, and Swiss franc have been bid higher by intermittent waves of risk aversion. At times like this past week when optimism […] More
Canadian Labor Market in Steep Decline
March 13, 2009
Canada shed another 82.6K jobs last month, 65% more than expected and akin to a drop of 670K in the U.S. Labor market. U.S. jobs, by comparison, dropped 651K last month. Over the past four months, Canadian employment fell by 74K per month or a U.S.-normalized 584K per month. The unemployment rate jumped to 7.7% […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Stocks Higher in Europe and Asia
March 13, 2009
The dollar is mixed, with gains of 0.7% against the yen, 0.4% against the euro, and 0.1% versus the Swissy and C-dollar but losses of 0.5% vis-a-vis sterling and 0.2% against the kiwi and Australian dollar. Less risk aversion amid some hope regarding U.S. growth and its banks. G20 finance ministers meet in Britain today […] More
Central Bank Watch
Chilean Benchmark Rate Reduced by 250 Basis Points
March 13, 2009
The Policy Board of the Central Bank of Chile cut its policy interest rate sharply for a third consecutive month, dropping such by 250 basis points to 2.25%. The rate had also been slashed by 250 basis points in February and was reduced initially in January by 100 basis points. A released statement cited rapidly […] More
