Archives for May, 2008

Australian & New Zealand Weekly: RBA on Hold but with a Clear Tightening Bias

  • May 31, 2008

The Reserve Bank Board meets next week on June 3 and the result of the meeting will be known at 2:30pm Sydney time on that day. We expect the Bank will hold rates steady but firm up a very clear tightening bias in the Governor’s associated statement. The decision to…
Go to Original post

Canadian Economy Moved Sideways in First Quarter

  • May 31, 2008

Anyone who thought that the downturn in the U.S. economy would not seriously impact Canada should have a look at this morning’s real GDP figures for Q1. To put the current cycle in context, recall that after peaking in the first quarter of 2007 at a stunning 4.1% growth rate,…
Go to Original post

Chart Of The Day: USD/JPY

  • May 31, 2008

Price action on the key USD/JPY daily chart, as shown, has reached a critical resistance level. This level is in the form of a significant long-term downtrend line (represented on the chart by the long, red line), which has provided downtrend resistance since the multi-year high in the pair was…
Go to Original post

U.S. Market Update

  • May 31, 2008

EUR/USD was holding steady near the 1.5530 level as it consolidated recent gains from the decline in both oil and metal prices. For the moment the dollar is decoupling from the spread between the US-German two-year notes, which has widened -174bps area from -154bps seen on Thursday. Weaker CAD GDP…
Go to Original post

FX Briefing: Euro Pares its Gains

  • May 31, 2008

EUR-USD has not been able to hold on to the gains it made during the course of the week. At the end of the week, the European currency stood at 1.55 - down over 3 cents from the beginning of the week. The dollar gained ground against the yen too;…
Go to Original post