Deeper Analysis
More Encouraging Economic Trends Around the World
November 12, 2009
In Japan, machinery orders are one of the most important forward-looking indicators. When growth staggers, this statistics gives one of the first indications of trouble. Domestic core private machinery orders, in particular, lead future trends in business investment, and these fell just 0.9% last quarter (or 3.6% at an annualized rate) after a slump of […] More
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Buttressing the Dollar
November 12, 2009
Lip services goes only so far. Secretary Geithner’s words yesterday in Asia were a variation on a 14-year-old theme but nevertheless as supportive rhetorically as I ever remember. I believe deeply that it’s very important to the United States, to the economic health of the U.S., that we maintain a strong dollar. And this too: […] More
Central Bank Watch
Bank of Korea Keeps Same Accommodative Policy
November 12, 2009
The seven-day repo rate was left at 2.0% for a ninth straight month even though South Korea avoided a recession and experienced brisk GDP expansion in both the second and third quarters of 2009. GDP advanced 12.3% at an annualized pace in 3Q and was even 0.6% higher than a year earlier. After the global […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: APEC Finance Ministers Meet in Singapore
November 12, 2009
The dollar is 0.3% firmer against the Canadian, New Zealand, Swiss, and euro area currencies. The buck is unchanged versus the Australian dollar and sterling and 0.1% easier against the yen. Finance Ministers from the Asia-Pacific Economic Cooperation praised the strength of China’s recovery and did not make an issue of Beijing’s yuan policy, leaving […] More
