With no data on the agenda, both USD/JPY and EUR/USD traded in a wait-and-see mode and only showed marginal changes in a day perspective. A similar trading pattern might develop today. A sharp drop in UK house prices reinforced the doubts on sterling. EUR/GBP comes very close to the psychological… Read More …
| Tagged Fundamental Outlook |
Two central banks went so far, and two more to go, yesterday was the release of the FOMC minutes for the March 18th meeting, which came out will almost in line with expectations, and this morning we had a decision from the Bank of Japan, where they hold rates steady… Read More …
| Tagged Fundamental Outlook |
In yet another sign of continued credit problems, Citigroup is now in talks to sell $12B worth of loans at a loss to a consortium of private equity firms in an effort to reduce balance sheet exposure. Poor house price data out of UK has added momentum to the slide… Read More …
| Tagged Fundamental Outlook |
Last night the minutes from the 10 March conference call and the 18 March monetary policy meeting were released. Generally, the minutes show a further intensification of the FOMC’s concerns over the economic outlook, as the balance of risk between low growth and high inflation deteriorated significantly further in the… Read More …
| Tagged Fundamental Outlook |
The BoJ left their benchmark interest rate unchanged at 0.50% at new Governor Shirakawa’s first meeting. Parliament approved the new central bank leader today and he inherits the job at critical time. The Japanese economy is experiencing a slowdown and with the interest rate at 0.50%, it leaves little room… Read More …
| Tagged Fundamental Outlook |
GBP suffered further losses on the back of the very negative Halifax house price survey for March, which showed the sharpest month-on-month drop in house prices since 1992. This leaves the market with firmer expectations of another rate cut by the BOE at tomorrow’s meeting. 0.8000 is a significant psychological… Read More …
| Tagged Fundamental Outlook |
Yesterday minutes of the March 18th monetary policy meeting in the Fed were released. It showed that all members of the FOMC but two voted in favour of cutting rates by 75 bps to 2.25% was passed unanimously. Fisher and Plosser who voted against the proposal preferred ‘less agrressive action’…. Read More …
| Tagged Fundamental Outlook |
