Archive for July 3rd, 2009

Foreign Exchange Insights and Next Week

Next Week

July 3, 2009

At least seven central banks hold interest rate policy meetings next week — those in Australia, Britain, South Korea, Colombia, The Philippines, and Chile — but only the final three on that list are considered likely to change policy.  The Bank of Japan holds a quarterly branch managers meeting at which Governor Shirakawa will be […] More

Central Bank Watch

Indonesian Policy Interest Rate Cut to 6.75% from 7.0%

July 3, 2009

Bank Indonesia implemented its eighth interest rate reduction since December 4th and fourth 25-bp move in a row as analysts had expected.  A signal that this string of cuts is drawing to a conclusion was also anticipated.  A statement from officials of the central bank advised that “future monetary policy would pursue a more prudent […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Service PMI Readings Released

July 3, 2009

Commodity-sensitive currencies are higher.  The U.S. dollar lost 0.5% against the kiwi and 0.3% against the Canadian and Australian currencies. The dollar otherwise rose 0.5% against sterling and 0.4% against the Swiss franc, which continues to be rattled by the threat of Swiss intervention.  The dollar edged up less (0.1%) against the yen and euro. […] More