Foreign Exchange Insights and Next Week
Next Week
July 22, 2011
Hungary and New Zealand have scheduled interest rate policy meetings next week, and the Fed Beige Book gets published. The regional Federal Reserves in Richmond, Kansas City, New York and Dallas released manufacturing survey results, and the Chicago and Milwaukee purchasing manager surveys arrive, too. The rest of the U.S. data calendar is led by […] More
Foreign Exchange Insights and Next Week
America’s Turn to Face the Music
July 22, 2011
One should resist the temptation to be overly cynical about the new rescue package for Greece. True, each previous attempt by officials failed eventually to defuse the euro debt crisis and prevent contagion within the monetary union despite initial signs of success in many instances. Why should this be any different? This new deal will […] More
New Overnight Developments Abroad - Daily Update
Markets Accepting Greek Rescue Plan So Far
July 22, 2011
Markets so far have not challenged the new EUR 109 billion EU rescue plan for Greece, which entails selective defaults, a doubling of loan maturities, and reduced lending rates. Attention now turns to the U.S. debt ceiling negotiations, where time remaining to do a deal is getting dangerously short. Stocks in the Pacific Rim climbed […] More
