Archive for July 28th, 2010

Central Bank Watch

New Zealand Central Bank Rate Raised But Statement Signals Greater Caution

July 28, 2010

The Reserve Bank of New Zealand has implemented a second 25-basis point rate increase.  The first was announced June 10, and today’s lifts the rate to 3.0%. The central bank’s statement was less hawkish than June’s communique.  Growth had been called broad-based seven weeks ago, but in contrast considerable discussion this time is spend on “subdued […] More

Larry's Blog

How Low Will the Euro Go By End-2010?

July 28, 2010

The euro presently shows a 10% net year-to-date decline against the dollar.  At its low of $1.1878 in early June, the euro had dropped by 17.0% since the end of 2009.  I do not expect the euro to be weaker than that June level on December 31. Some analysts are more bearish on the euro […] More

New Overnight Developments Abroad - Daily Update

Weaker Aussie and New Zealand Dollars

July 28, 2010

The U.S. dollar advanced 1.0% and 0.7% against its Australian and New Zealand counterparts but was pretty steady otherwise.  The Greenback dipped 0.3% against the loonie, 0.2% relative to the Swissy and yen, and 0.1% against the euro.  The dollar rose 0.1% against sterling and is again unchanged versus the yuan. Stocks rose sharply overnight […] More