Eye on Central Banks and Spanish Banking System

April 18, 2012

The dollar advanced 0.7% against the yen, 0.4% versus the Swiss franc, and 0.3% relative to the euro.  The greenback is unchanged against the yuan and loonie, 0.1% higher versus the New Zealand and Australian dollars, and down 0.3% against the yen. Fresh worries about Spanish banks followed news from the Bank of Spain that […] More

Persistent Worry about Greece and Other Peripherals

February 7, 2012

Greek Prime Minister Papademos is to hold more meetings with the main political factions today, as a deal on austerity remains elusive.  Concern is also mounting that Portugal may default, too. Following massive yen sales on October 31 totaling JPY 8.072 trillion, Japan’s Ministry of Finance intervened covertly each of the first four days in […] More

German-French Accord to Recapitalize European Banks

October 10, 2011

French President Sarkozy and German Chancellor Merkel on Sunday announced an agreement to ensure sufficient capitalization of European banks. Although few details of the accord were released, markets reflect new appetite for risk.  The dollar fell 2.1% against the Swissie, 1.7% relative to the Aussie dollar, 1.6% against the euro, 1.4% versus the kiwi, 1.1% […] More

European Stocks Slump After GDP Data Are Released

August 16, 2011

The German Dax, Paris Cac and British Ftse are down 2.1%, 1.4%, and 0.7%.  Euro area 2Q GDP results were softer than feared.  Expectations are low on the outcome of a meeting today between French President Sarkozy and German Chancellor Merkel. In the Pacific Rim, stocks had rallied 4.8% in South Korea but fallen by […] More