Foreign Exchange Insights and Next Week
Next Week
November 19, 2010
Central banks in Israel, Poland, and Mexico make interest rate announcements next week, and minutes from the Fed’s meeting on November 3rd will be released. Japanese markets will be shut on Tuesday for Labor Thanksgiving Day, and U.S. Thanksgiving holiday is on Thursday. In recent years many businesses have remained closed on the day after […] More
Foreign Exchange Insights and Next Week
U.S. Thanksgiving Break Finds a Confusing Currency Muddle
November 19, 2010
All the major currencies are carrying some piece of negative baggage. The Fed is running an easier monetary policy than other central banks without commensurably weaker U.S. growth prospects. Sovereign debt strains are slamming Euroland’s so-called peripheral economies one by one, generating some doubt that the euro will hold together indefinitely. Persistent Japanese deflation was […] More
New Overnight Developments Abroad - Daily Update
Focus on China and Bernanke
November 19, 2010
The People’s Bank of China raised reserve requirements for the fifth time in 2010. The requirement for big banks will climb another 50 basis points to 18.5% effective November 29. The backdrop for this tightening was evidence of a greater-than-forecast acceleration of CPI inflation to 4.4%. A move like this can be viewed as substituting […] More
