Deeper Analysis
British Budget Didn’t Wow Markets
March 24, 2010
Government budgets are always pitched to two often-conflicting audiences, the public and investors. When elections are near, pleasing both groups takes on even greater delicacy. British elections will probably be held seven weeks from tomorrow, and U.K. public finances are in shambles in the wake of and 8% drop in nominal GDP since 2007 and […] More
Central Bank Watch
Norwegian Monetary Policy Left Unchanged
March 24, 2010
The key policy rate of the Norges Bank, which was raised 25 basis points each last October and December but not at last month’s meeting, was again kept at 1.75%. Most analysts expected no change. This week’s policy meeting coincided with a new monetary policy assessment, and it is more dovish than the last one. […] More
New Overnight Developments Abroad - Daily Update
Significant Currency Movements Overnight
March 24, 2010
Currencies reflect active risk plays. The yen gained 0.9% against the dollar, which otherwise advanced by 1.1% against the euro and Swissy, 0.9% relative to the kiwi, 0.7% against the Australian dollar, 0.6% against sterling and 0.5% versus the Canadian dollar. The euro got as low as $1.3341, weakest since $1.3212 during the first week […] More
