Archive for July 28th, 2009

Currency Markets in the News

The Consumer's Burden

July 28, 2009

Not long ago, house price stability was widely considered the main condition to end the U.S. recession on a sustaining basis.  Today’s drop in equities suggests that stable house prices are no longer a sufficient or even the most important developments that is required.  Today’s Case-Shiller report reflected much more improvement than anticipated.  The composite […] More

Central Bank Watch

Monetary Policy Kept Unchanged in India

July 28, 2009

The Reserve Bank of India left its key repo and reverse repo rates at 4.75% and 3.25% and its cash reserve requirement at 5%.  The result matched expectations and was accompanied by a statement that placed an upward bias on the Bank’s growth forecasted and revised projected inflation in fiscal 2009-10 to 5% from 4%.  […] More

New Overnight Developments Abroad - Daily Update

New Overnight Developments Abroad: Softer Dollar

July 28, 2009

The dollar lost 1.2% against the Australian dollar, 0.8% against the kiwi, 0.6% relative to the yen, 0.4% versus the Canadian dollar, 0.3% against the euro and Swiss franc and 0.2% relative to sterling. The Nikkei closed unchanged.  Elsewhere in Asia, stocks rose 1.8% in Singapore and Hong Kong, 1.6% in Taiwan, 1.3% in Indonesia, […] More