Archive for April 1st, 2010

Foreign Exchange Insights and Next Week

Easter Holiday 2010 Finds Key Currencies Marching to Different Beats

April 1, 2010

The euro’s first-quarter range of $1.4882 – $1.3268 lay entirely within calendar 2009’s high-low boundaries of $1.5144 and $1.2458.  Until a week ago, euro momentum had been adverse.  It subsequently rallied 2.4% to $1.359 but remains 3.5% below the mid-point of this year’s trading range.  At times, perceptions that the euro area’s growth prospects are […] More

Deeper Analysis

U.S. Minus Euroland PMI-Mf’g Spread Widened to 3.0 Points in March

April 1, 2010

Manufacturing expanded robustly and at an accelerated pace last month in both Euroland and the United States.  Euroland’s purchasing managers index advanced 2.4 points to 56.6, best since November 2006.  The output and orders sub-indices hit their highest respective levels since June 2006 and June 2000.  The United States managed to outperform Euroland’s stellar manufacturing […] More

New Overnight Developments Abroad - Daily Update

Surprisingly Strong European PMI-Manufacturing Readings

April 1, 2010

On this first day of the new quarter, which happens to also be Mourning Thursday and the day before the U.S. March jobs report, the dollar has eased 0.4% against sterling and the Canadian dollar but risen 0.7% relative to the kiwi.  The IMF called New Zealand’s currency 10-25% overvalued.  Other U.S. dollar movements are […] More