Archive for September 29th, 2011

Deeper Analysis

Big Picture Reflections on Today’s U.S. Data

September 29, 2011

People who trade currencies daily put a heavy emphasis on how reported data compare to street forecasts, and whether a number is deemed bullish or bearish hinges on that immediate litmus test.  Today’s upward revision of second-quarter U.S. GDP growth to 1.3% from 1.0% was a bigger improvement than predicted.   New U.S. jobless claims of […] More

Central Bank Watch

Romanian Central Bank Rate Left at 6.25%

September 29, 2011

The National Bank of Romania decided again to retain all monetary policy settings as they were.  This has been the approach of other east European central banks during the euro debt crisis, and in Romania’s case, the benchmark 6.25% interest rate has been at that level since a cut of 25 basis points in May […] More

New Overnight Developments Abroad - Daily Update

Quarter-End Distortions

September 29, 2011

Markets can get flooded around quarter-end periods by a rush of data releases and transactions inspired by accounting objectives. Investors continue to watch the unfolding European debt crisis.  Germany’s parliament is expected to approve the expanded EFSF facility today, but the vote will be a barometer of the support Chancellor Merkel retains from her own […] More