Foreign Exchange Insights and Next Week
Next Week
October 1, 2010
A new calendar quarter, a new U.S. Federal fiscal year, and the start of the second half of Japan’s fiscal year beckon. China and Germany have similar important holidays at the start of October. Chinese markets will be closed Monday through Thursday to commemorate the 61st anniversary of the founding of the People’s Republic. On […] More
Foreign Exchange Insights and Next Week
Ride the Roller Coaster at Your Own Risk
October 1, 2010
The roller coaster metaphor describes currency market conditions since late spring very aptly. The ride starts and ends about the same place. But in between, one travels all over the place at dizzying speed, absorbing thrills and chills and winding up queasy for the effort. The ride is mindless fun and doesn’t enhance the public […] More
Deeper Analysis
U.S. Minus Euroland Manufacturing PMI Spread Narrows to Less Than a Point
October 1, 2010
The U.S. factory-sector purchasing managers index fell by 1.9 points in September, a half-point more than the euro area PMI index. Manufacturing continued to expand in the final month of the third quarter but at their slowest rates since November 2009 in the U.S. and January 2010 in Euroland. The differential between the two indices […] More
New Overnight Developments Abroad - Daily Update
Lots of Data to Process, But Sinking Dollar Remains a Constant
October 1, 2010
On the first day of a new calendar quarter, the dollar so far has lost another 0.7% against sterling, the euro, and kiwi, 0.4% against the yen, Swissy, and Australian dollar and 0.2% relative to the Canadian dollar. The yuan is steady. Stocks got off to a goods start after a superb September, rising 2.1% […] More
