Deeper Analysis
Explosive Growth in Foreign Exchange Market Volume Continued in 2007-2010
September 1, 2010
The Bank for International Settlements in Basle, Switzerland coordinates a triennial survey of global currency market transaction volume. A survey taken this spring revealed daily turnover of $3.981 trillion. Such was 19.8% greater than volume three years earlier, 105.8% bigger than six years ago, and 222.6% larger than in the 2001. The only three year […] More
Central Bank Watch
Brazilian Selic Rate Left at 10.75%
September 1, 2010
The interest rate policy board, Copom, at the Banco Central do Brasil paused the tightening of its key interest rate as analysts anticipated. Hikes implemented of 75 bps on April 28, another 75 bps on June 9 and 50 bps on July 21 had reversed two-fifths of the cuts between January 2009 and July 2009. […] More
Deeper Analysis
Stock Price Movements Since Their Late-April Peak
September 1, 2010
The Dow Jones Industrial average is 8.5% below its closing on April 26 in spite of the very robust beginning to September. That loss is greater than the net decline of 6.9% in the British Ftse and the 4.0% drop of the German Dax from their highest closing levels in late April. But the Dow’s […] More
Deeper Analysis
U.S. Regains PMI-Manufacturing Lead From Europe
September 1, 2010
The U.S. minus euro area PMI differential in manufacturing swung to +1.2 in August from minus 1.2 in July. The spread had been negative in July for only the first time since December 2008, averaging +3.0 in that 18-month span and peaking in January 2010 at +6.0. The U.S. purchasing managers index rose 0.8 points, […] More
New Overnight Developments Abroad - Daily Update
Dollar Starts September with a Drop
September 1, 2010
The dollar lost 1.5% against the Australian dollar, 0.9% versus the euro and kiwi, 0.6% relative to the Canadian dollar, 0.3% against sterling, 0.2% against the yen and 0.1% versus the Swiss franc. The yuan eased again but by less than 0.1%. Stocks jumped 2.1% in Australia, 1.7% in Indonesia, 1.4% in New Zealand, 1.3% […] More
