Archive for September 24th, 2009

The yen traded high against the greenback amid speculation Japanese companies returned from a three day holiday to repatriate funds before the end of the fiscal first half. The yen also rose versus all of its 16 major counterparts after a government report showed Japan’s exports fell for an 11th… more from... »

US equities faced some profit taking after the announcement of the Fed policy decision and this triggered a USD re-bound, too. However, as the Fed reaffirms its commitment to keep interest rates low for an extended period, the global picture remains USD-negative. Sterling showed a brief rebound after the publication… more from... »

Sterling rallied on Wednesday after Bank of England minutes showed no policymakers voted to increase its asset buying plan and that cutting the remuneration rate on bank reserve deposits was not discussed. more from source »

Apparently the Australian financial system was able to remain stable after showing flexibility against the worst economic crisis the world had seen since World War II, since banks continue crediting after managing to avoid the negative shocked produced by the financial crisis. Yet the central bank lowering rates to the… more from... »

Yesterday’s glut of central bank activity made for an eventful day in the FX markets. The BoE minutes was first up, with a rosier picture of the UK economy than last week’s events would have suggested; the MPC voted unanimously to keep rates on hold at 0.5%, but more importantly… more from... »

The dollar fell against the yen in Asia Thursday due to heavy selling by Japanese exporters for quarter-end settlement, and dealers say the unit may fall further on lingering concern over the U.S. economic recovery. more from source »

Mixed signals from central banks: The Federal Reserve will keep interest rates low for another period and also extended the asset purchase program to March, while Canada and Norway is signaling that they are ready to hike; stocks will be supported by the Fed’s statement, but once other central banks… more from... »

There was something for everyone in last night’s FOMC statement with doves welcoming the fact the ‘economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period’ , while hawks latched on the (marginally) more optimistic tone for the economic outlook. The decision… more from... »

The G20 meeting in Pittsburgh kicks off today. The main topic will be a proposed plan that would commit the US, Europe and China to make changes in national economic policies to produce lasting growth. Another hot topic is exit strategies to withdraw both monetary and fiscal stimulus, but any… more from... »

Asian currencies continue to trade in tandem with bias regarding a global economic recovery. The Asian Development Bank upgraded its forecasts for economic growth lifting emerging market currencies like the Thai Baht. Price action has been fairly volatile in both the majors and exotics due to increased volatility and sensitivity… more from... »