Archive for June 1st, 2009

Australian Rate Decision Preview

June 1, 2009

The 3.0% cash rate will be left unchanged when monetary officials reveal their decision at 04:30 GMT tomorrow.  After perusing the Reserve Bank’s quarterly Monetary Statement in early May, many analysts concluded that the rate will remain at 3.0% through the end of next year.  That Statement and minutes from last interest rate policy meeting, […] More

Currency Markets in the News

European Manufacturing Narrows Gap With United States

June 1, 2009

Euroland’s manufacturing PMI index improved more sharply than America’s in May, although both indices remained in the low 40’s, signaling a continuing fairly pronounced contraction.  The difference between the U.S. and Euroland indices was at its narrowest point since January, but renewed appreciation of the euro threatens to widen the spread anew later in 2009.  […] More

Canadian Growth Very Negative Last Quarter

June 1, 2009

Real GDP plunged 5.4% at a seasonally adjusted annual rate (saar).  In combination with a 3.7% drop in 4Q08, it was the greatest two-quarter decline in nearly a half century, and yet analysts had actually braced for a bigger-than-6% drop.  GDP fell 2.1% from 1Q08, twice as much as the four-quarter drop to 4Q08.  Both […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Equities Rally Sharply

June 1, 2009

Stocks in the Pacific Rim advanced by 4.3% in Indonesia, 4.0% in Hong Kong, 3.6% in Vietnam and China, 3.5% in Thailand, 2.9% in The Philippines, 2.0% in Australia and 1.6% in Japan and New Zealand.  In Europe, the German Dax, Paris Cac and British Ftse have traded 3.2%, 2.5%, and 1.8% higher. The dollar […] More