Foreign Exchange Insights and Next Week
Next Week
October 30, 2009
The U.S. turns its clocks back one hour to standard time this weekend. Some markets but no major ones will be shut Monday for All Souls’ Day, and Japan is closed Tuesday for National Culture Day. Central bank meetings will be held in the United States, Euroland, Britain, Indonesia, Hong Kong, The Philippines, Romania, Peru, […] More
Foreign Exchange Insights and Next Week
Weekly Foreign Exchange Insights: October 30th
October 30, 2009
At least four different forces are converging upon the currency markets, so last week’s mixed dollar performance was unsurprising and liable to continue. The most widely identified pattern is the risk trade wherein the dollar moves inversely with stocks in response to the waxing and waning of investors’ appetite for risk. The dollar was well-bid […] More
Central Bank Watch
No Significant Surprises From Bank of Japan
October 30, 2009
The Bank of Japan promised to leave its uncollateralized interest rate at 0.1% “for some time” but took initial steps to rein in quantitative easing. The decisions after four hours of deliberation were unanimous on the rate but included a dissent from Mizuno regarding the planned phase-out of unconventional steps to facilitate corporate financing. The […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Bank of Japan Projects Negative Inflation in Fiscal 2011
October 30, 2009
The dollar is mixed so far on this final trading day of October, with gains of 0.3% against the kiwi and 0.1% relative to sterling and the Canadian dollar but losses of 0.5% against the yen, 0.2% against the Swiss franc and 0.1% against the euro and Australian dollar. Stocks in the Pacific Rim are […] More
