Foreign Exchange Insights and Next Week
Next Week
March 19, 2010
Data and event highlights next week are the annual British budget, the do-or-die moment of the U.S. healthcare debate, Euroland’s preliminary Flash readings, U.S. home sales, and the congressional testimony of Fed Chairman Bernanke on the policy exit strategy. It will be short week for Japan, where markets will be closed Monday to observe the […] More
Central Bank Watch
India’s Central Bank Rate Hike Not a Mere Policy Normalization
March 19, 2010
The Reserve Bank of India’s first rate increase since July 2008 was motivated by accelerating price increases for non-food manufactured goods, rising costs for fuel and other commodities, higher-than-expected overall inflation, and the risk that all this will boost expected inflation against the backdrop of a broadening domestic demand-led economic recovery. Wholesale prices for nonfood […] More
Foreign Exchange Insights and Next Week
Many Uncertainties For Currency Traders to Sift Through
March 19, 2010
February 5th has become an important reference point for world financial markets. For one thing it was a Friday. Because currency trading is a 24-hour per day game, Friday closing levels provide a convenient opportunity to get a still picture of what’s happening. Also in early February, stock markets bottomed after a long-overdue, but comparatively […] More
New Overnight Developments Abroad - Daily Update
Stronger Swiss Franc Against Euro and Sterling
March 19, 2010
The dollar lost 0.2% against the Swissy but shows gains of 0.7% against sterling and 0.3% relative to the euro. Relative to commodity-sensitive currencies, the greenback is up 0.4% against the Canadian and New Zealand dollars but unchanged versus the Aussie dollar. The U.S. dollar is 0.1% firmer against the yen. Oil and gold prices […] More
