Archive for April 27th, 2012

Foreign Exchange Insights and Next Week

Will Currency Logjam Break Up in May?

April 27, 2012

The dollar fell modestly against the euro and Swiss franc during the last full calendar week of April, a bit over 0.5% against the British and Australian currencies, and slightly more than 1.0% relative to the Canadian dollar and Japanese yen.  Since the start of the year, the dollar has eased by 5.0% or less […] More

Central Bank Watch

Bank of Japan Expands Quantitative Easing

April 27, 2012

After a one-day meeting lasting three hours and 42 minutes, the Bank of Japan announced a smaller net 5.0 trillion yen expansion of its Asset Purchase Program than many analysts had expected and hoped to see.  Compositional changes also were unveiled that will lengthen the maturity of the asset portfolio and put additional downward pressure […] More

New Overnight Developments Abroad - Daily Update

More Disappointing News

April 27, 2012

S&P downgraded Spanish debt by two notches to BBB+ from an A rating previously and assigned a continuing negative outlook to such. Spanish unemployment jumped from 22.85% in 4Q11 to 24.44% last quarter, which was only a smidgen less than the historical high point.  Spanish retail sales volume was 3.7% below a year earlier in […] More