Foreign Exchange Insights and Next Week
Next Week
April 9, 2010
In the second week of April, British political parties unveil their election manifestos, the U.S. and Canada report trade data, the Bank of Japan holds a quarterly Branch Managers meeting, and Euroland releases industrial production. On the whole, it will not be a particularly important week for data or central bank policy meetings. Of latter, […] More
Foreign Exchange Insights and Next Week
Currency Market Chatter Can Be Misleading
April 9, 2010
A Greek chorus is an ever-present fixture of currency market trading. A market participant can formulate opinions and trading strategies from the relentless drip of new information — data releases, comments made and general news — or from market conditions (how market prices and volumes are behaving) or from unsolicited remarks about the market by […] More
Central Bank Watch
South Korean 2.0% Base Rate Retained as Expected
April 9, 2010
After cutting its key monetary policy rate by 100 basis points in August 2008, 175 bps in December 2008 and 50 bps in February 2009, the Bank of Korea will continue to run that very accommodative rate level. The economy is recovering, thanks to buoyant exports and steadily increasing consumption and investment. GDP was 6.0% […] More
Central Bank Watch
No Change in Peru’s 1.25% Central Bank Rate
April 9, 2010
Despite a hint a month ago of a possible rate increase this month but consistent with analyst expectations, the Central Reserve Bank of Peru kept policy steady at settings first established last August. During 2009, the benchmark interest rate was cut by 25 basis pints in February and March, 100 bps in April, May, June […] More
New Overnight Developments Abroad - Daily Update
Euro Recovered 0.9% Against Yen and 0.4% Versus Dollar
April 9, 2010
ECB president Trichet apparently said the right things yesterday about a Greek debt default not being allowed to happen. The euro is firmer as the weekend approaches. The dollar has lost 0.9% against the kiwi, 0.7% relative to sterling, 0.4% against the euro and Canadian dollar, and 0.3% relative to the Swissie and Australian dollar. […] More
