Foreign Exchange Insights and Next Week
Next Week
October 7, 2011
U.S. markets are closed Monday for Columbus Day, but China reopens for business after a full-week closure to commemorate the founding of the People’s Republic in 1949. Central bank interest rate policy meetings are scheduled in Indonesia, South Korea, and Mexico. FOMC minutes will be released, and the ECB monthly Bulletin gets published. Euroland’s debt […] More
Foreign Exchange Insights and Next Week
Risk Aversion Isn’t Over until It’s Over
October 7, 2011
Don’t be fooled by the latest respite from risk aversion. Such will return and generally linger around for considerably longer. More about that in a moment after some quick comments on specific currencies. The euro/dollar key relationship is currently trading very near the $1.3375 average level for the nearly eight years that Jean-Claude Trichet has […] More
Central Bank Watch
Bank of Japan Review
October 7, 2011
The BOJ Policy Board, which eased earlier this year in March and August, met over two days for six hours and one minute and did the following Retained a 0.0-0.1% target on overnight money rates as expected. This near-zero interest rate policy (ZIRP) has been in effect since March. Even more telling, the rate hasn’t […] More
New Overnight Developments Abroad - Daily Update
U.S. and Canadian Jobs Day
October 7, 2011
Markets have absorbed yesterday’s ECB and Bank of England policy announcements and now look ahead to the release of North American September employment data. Weak U.S. jobs numbers are anticipated. The dollar shows overnight losses of 0.4% against sterling, 0.3% versus the Aussie dollar and 0.1% against the Swissie and kiwi. The greenback has gained […] More
