Archive for June 29th, 2012

Foreign Exchange Insights and Next Week

A Watershed — or Perhaps Not

June 29, 2012

The paramount matter for currency market participants is whether Europe has turned a corner in resolving its sovereign debt and banking crisis.  Only a cockeyed optimist would deny that more setbacks lie ahead, but can it be at least concluded that an inflection point in the crisis has been crossed?  The answer requires a leap […] More

Deeper Analysis

Japanese Data Roundup

June 29, 2012

A considerable number of Japanese economic statistics are released near the end of every month, including consumer prices, industrial production, retail sales, unemployment, real household spending, housing starts, construction orders, auto production, and the purchasing managers survey of manufacturers.  June’s report of May-June data was a mixed bag that on balance doesn’t alter the view […] More

New Overnight Developments Abroad - Daily Update

Newfound Hope from the Brussels EU Summit

June 29, 2012

Markets responded positively to verbal progress on a number of fronts such as an EU growth pact of EUR 120 billion, ECB involvement in EU bank supervision, and better terms for recapitalizing Spanish banks.  We’ve seen this before, that is a pretense of greater cohesion at a big meeting, followed by a market rally, followed […] More