Currency Markets in the News
Euro Area Recovery Passes America’s
December 3, 2009
The first difference between the U.S. and Euroland service-sector PMIs moved out to 4.3 points in favor of Europe in November, more than twice as large as October’s spread of 2.0 points. It was Euroland’s largest advantage since November 2008. Service-sector activity in the United States contracted for the first time since August, while the […] More
Central Bank Watch
ECB Wants to Avoid Rise in Short-Term Rates As Phase-Out of Unconventional Measures Begins
December 3, 2009
ECB President Trichet stressed over and over again that decisions not to do a fourth 12-month refinancing tender, to index the third 12-month refinancing operation, to do no more six-month operations after the one scheduled at end-1Q10 in no way whatsoever are meant to signal any bias change in the bank’s interest rate policy. He […] More
Central Bank Watch
Benchmark Bank Indonesia Interest Rate Kept at 6.5%
December 3, 2009
As was expected, Indonesian monetary officials left their key interest rate at 6.5% where such has been for the past four months. From a peak of 9.5%, nine consecutive monthly rate cuts were implemented starting exactly a year ago. Six of the reductions including the first and last ones were by 25 basis points, and […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Dollar and Yen Weaker Ahead of ECB Announcements
December 3, 2009
The dollar has declined 0.6% against the euro, 0.5% against the Swissy, 0.4% against the Australian and New Zealand dollars, and 0.1% relative to sterling and the Canadian dollar. In contrast, the yen lost another 0.5% against the dollar and 1.1% against the euro. The rand hit a 7-week high against the dollar on rising […] More
