Entries Categorized as 'G7 meeting'

British Pound: Understanding the Moves

Date February 13, 2009

The British pound hit a high of 1.4605 this morning after falling to a low of 1.4137 yesterday. Although we have a mild improvement in risk appetite that is helping to propel the GBP, CAD, AUD and NZD higher, 2 stories making the wires are responsible for the volatility in the British pound.
Story #1 [...]

G7 Meeting Begins Tomorrow! Impact on EUR/USD

Date February 12, 2009

The G7 meeting begins tomorrow. Take a look at how the EUR/USD traded after the G7 changed the currency portion of their communique (What to Expect for the G7 Meeting in Rome).
USD/JPY Chart

EUR/USD Hits 2 Year Highs, Growing Chance of Coordinated Cuts

Date October 27, 2008

The US dollar is on steroids this morning as the sell-off in global equities sends the dollar to a 2 year high against the Euro. The EUR/USD is within 3 percent of its fair value of 1.20 while the GBP/USD and USD/JPY are now undervalued on a purchasing power parity basis. However PPPs [...]

G7 Issues Statement on Currencies: All Talk, No Action

Date October 27, 2008

The G7 released a statement on the Japanese Yen this morning, but unfortunately it is all talk and no action which suggests that the Japanese may have had a hard time convincing their US and European counterparts to join in on any physical intervention to sell Yen.
In this type of market environment, open threats [...]

Is There a Fix? Dow Down 678, More Losses in FX

Date October 9, 2008

Another day, another plan from the US government that has failed to impress the markets. This morning, the Treasury said that they will be injecting capital directly into banks by taking an equity stake. In theory this announcement should give banks the peace of mind to start lending as a direct capital injection from [...]