Foreign Exchange Insights and Next Week
Next Week
April 10, 2009
The focus of scheduled data shifts from largely Europe this past week to a heavier concentration of U.S. and Chinese releases next week. Much of Europe will be closed at the start of the week for Easter Monday. Easter Monday has always been a sentimental favorite of mine, commemorating the 34th day of my first […] More
Foreign Exchange Insights and Next Week
Weekly Foreign Exchange Insights: April 10th
April 10, 2009
The dollar retains a bid tone. So far in the second quarter, the dollar has advanced moderately against the three traditional hard currencies: the yen, the Swiss franc and the euro, which is the heir to the Deutsche mark. Currency market specialists use the term “hard” to denote currencies that have trended upward in the […] More
Central Bank Watch
State Bank of Vietnam Implements 100-Basis Point Rate Cut
April 10, 2009
Vietnam’s central bank slashed its refinancing rate and discount rate by 100 basis points to 7% and 5%, respectively, today. In doing so, Vietnam became the eleventh country to see a benchmark interest rate lower thus far in April. The biggest of those cuts were 175 basis points in Nigeria, 150 basis points each in […] More
Central Bank Watch
Central Bank of Chile Eases Another 50 Basis Points
April 10, 2009
The Central Bank of Chile cut the monetary policy rate to 1.75% from 2.25% as expected and flagged the risk of more cuts as needed. This was the fourth reduction this year and the smallest following cuts of 100 basis points on January 8, 250 bps on February 12, and 250 bps on March 12th. […] More
New Overnight Developments Abroad - Daily Update
New Developments Abroad: Many Markets Shut For Good Friday
April 10, 2009
Virtually all European markets are closed. So were Australia, New Zealand, Hong Kong, Singapore, and the Philippines. U.S. and Canada to shut, too. Asian stocks rallied, gaining 4.3% in Vietnam, 4.1% in Pakistan, 3.1% in China, 2.6% in Malaysia, 1.5% in South Korea and 0.5% in Japan. The dollar and yen are a little firmer, […] More
