Foreign Exchange Insights and Next Week
Next Week
February 4, 2011
The week of February 11 has an abundance of second-tier data releases. China will remain closed on Monday and Tuesday for continuing observance of the Lunar New Year, and Japan is shut Friday for National Foundation Day. Fed Chairman Bernanke on Wednesday will be testifying before the House budget committee on the economic outlook, monetary […] More
Foreign Exchange Insights and Next Week
Times Are a Changing
February 4, 2011
Context is very important in foreign exchange trading. The December U.S. jobs report released on January 7 and today’s January labor market report both surprised markets in pretty much the same way. The unusual combination of weaker-than-needed jobs growth yet a big drop in the unemployment rate triggered a weaker dollar a month ago but […] More
Central Bank Watch
Rate Hike in Indonesia
February 4, 2011
Bank Indonesia became one of the last Asian central banks to begin raising interest rates today with a hike of 25 basis points in its benchmark to 6.75%. The move is being characterized as a preemptive step to curb the renewed onset of rising inflation expectations. Due mostly to food price pressures, CPI inflation has […] More
New Overnight Developments Abroad - Daily Update
Awaiting U.S. Jobs Data, Events in Egypt, and EU Summit Results
February 4, 2011
Currencies barely moved overnight, continuing the flat performance in U.S. trading on Thursday. The dollar is up by 0.2% against the Swiss franc and 0.1% versus sterling, unchanged against the yen, euro, kiwi and yuan, down 0.1% relative to the Canadian dollar, and off 0.2% against the Australian dollar. Many Asian markets remain closed for […] More
