Foreign Exchange Insights and Next Week
No More Fun Watching Currencies
August 15, 2013
The thrill is gone for long-time dollar watchers like myself and not because of a lack of interesting developments happening on the policy front, in economic trends, or to other markets. Middle East violence is again holding the world hostage both politically and economically. Europe seems to be emerging from recessions but with its banks […] More
Central Bank Watch
Bank Indonesia Officials Decline to Tighten Further
August 15, 2013
Benchmark interest rate hikes of 25 basis points in June and 50 bps in July reversed cuts administered in November 2011 and February 2012. The present central bank rate level of 6.5% matches the level maintained until February 2011 in the wake of the Great Recession. A further hike in the benchmark interest rate was […] More
New Overnight Developments Abroad - Daily Update
Awaiting U.S. Data on this Historic Anniversary
August 15, 2013
There is a big U.S. data release calendar that includes industrial production, the Philly Fed and Empire State manufacturing indices, the National Association of Home Builders index, Treasury-reported capital flows (TIC), and weekly jobless insurance claims. Former President Nixon severed the link between the dollar and gold 42 years ago today. Trading in Europe was […] More
