Foreign Exchange Insights and Next Week
Next Week
May 18, 2012
The summit of G8 leaders in Maryland winds up on Saturday, May 19. An EU summit is scheduled for Wednesday, the same day that the OECD Economic Outlook will be published and that minutes from the Bank of England early-May meeting are being released. Some of the central bankers with public appearances include ECB President […] More
Central Bank Watch
Chile
May 18, 2012
Officials at the Central Bank of Chile did not change the 5.0% monetary policy rate. This was the fourth consecutive monthly meeting to conclude with a decision of no interest rate change. From a Great Recession low of 0.50%, 275 basis points of increase were implemented in 2010 and a further 200 bps of increase […] More
Foreign Exchange Insights and Next Week
Big Storm Coming and No Place to Hide
May 18, 2012
The euro’s increasing vulnerability is the main topic of currency market chatter. It has taken 2.5 years for the euro to depreciate about 23 U.S. cents or some 15%. Over this span, a familiar sequence of crisis intensification, slow policy response, and eventual announcement of measures to preserve the euro has kicked the problem down […] More
New Overnight Developments Abroad - Daily Update
More Angst about Europe as G8 Leaders Gather at Camp David for Annual Summit
May 18, 2012
Pacific Basin equities took another deep dive, falling 3.0% in Japan, 2.7% in The Philippines and Australia, 3.4% in South Korea, 2.8% in Taiwan, 1.6% in Thailand and Indonesia, 1.5% in China and Singapore, and 1.3% in Hong Kong. In the epicenter of worry, stock prices are down 2.1% in Stockholm, 1.0% in London, but […] More
