After last week questioning the ability of the US to repay it’s debts, the PBOC this week have again reiterated their preference for replacing the USD with an international basket of currencies. Basically, China is getting increasingly concerned about the … Continue reading
According to a Kyoto news report Tuesday, Japan’s domestic auto sales are to hit a 32 year low in the 2009 fiscal year.
The AUD/USD continues to benefit from the renewed appetite for higher yielding currencies and with the 0.7000 level now looking like a minor line in the sand it looks like we will continue to target the 0.7300 level as the … Continue reading
Some BOJ board members are obviously taking a glass half full approach with as recently as last month believing the economy could start recovering in late fiscal 2009. They covered their bets a little by throwing in the old “many … Continue reading
The GBP/JPY has traded up to a high of 144.00 in Asian trading, its highest level since 1 Dec 2008.
That was the second attempt by the USD/JPY to re-capture the 98.00 level and although we managed a high of 98.03 there appears to be significant selling interest that has at least seen the march higher pause for a brief moment. … Continue reading
The Hang Seng has followed on from the gains in the Asian equity indices, opening the day up 2.5% with financials once again leading the way today in Hong Kong, as was the case in Japan and Australia.
Well at least that is the case for Japan and Australia, and i am sure that the Hang Seng will follow suit when it opens shortly. The Nikkei is currently up over 2% with the Australian All Ords up over … Continue reading
It is that time of the day again when i enlighten you all as to the economic goings on throughout the world. There is plenty to keep us amused from 07:45 GMT onwards, so please take the time to familiarise … Continue reading
So much for not resorting to protectionism and the “screw thy neighbour” approach.