Merkel
Holiday Closures in the United States and Great Britain
May 30, 2011
Markets are closed today in the United States for Memorial Day and Britain for a spring bank holiday. Currency movements have been muted without the participation of all trading centers. The dollar at 14:15 GMT shows gains from Friday’s close of 0.2% against the euro and 0.1% versus sterling, the yen and Canadian dollar, but […] More
Focus this Monday on Geopolitics, Not Data
March 28, 2011
Chancellor Merkel of Germany suffered key state election defeats over the weekend. Key issue was nuclear power. The summit of EU leaders in Brussels failed to finalize an agreement on funding for the European Stability Mechanism. Such hopes ended when Portugal’s government collapsed. There appears to have been a partial reactor meltdown at Fukushima. Tepco […] More
Further Sharp Drop in Australian and Canadian Dollars
May 20, 2010
The U.S. dollar advanced 2.1% and 1.1% against the Aussie and Canadian currencies. The kiwi, down just 0.5%, has shown greater resilience following a well-received New Zealand budget that cut income taxes, raised sales taxes to 15% from 12.5%, and emphasized a long-term plan to contain raising foreign debt. The dollar has also risen 0.6% […] More
Risk Aversion Surges Following Unilateral German Ban on Short-Selling
May 19, 2010
Stocks are plunging in response to yesterday’s unilateral action by German regulators to ban short-selling of euro area government debt and credit default swaps. The ban extends to end-1Q11. German Chancellor Merkel seeks broader Euroland action, endorsing need for a financial transaction tax. Equities tumbled 2.5% in Singapore, 2.7% in India, 3.7% in Indonesia, 1.9% […] More
