Monthly Archives: May 2012

The current Operation Twist is scheduled to be terminated at the end of June, which renders the 20 June FOMC meeting an obvious candidate for QE3. The chance of this happening has risen lately following the weak PMIs out of … Continue reading →

The manufacturing outlook has deteriorated. The PMI peaked in Q1, but slipped back to 50.5 in April, a level barely consistent with expansion. Lloyds TSB had hoped that the much stronger CBI survey signalled faster underlying growth. But this survey … Continue reading →

The recent risk-off tone has seen the USD strengthen last week, peaking at 81.758 on Friday, just below the January highs. The USD eased following corrective moves into the weekend. There were no firm conclusion from the G8 meeting over … Continue reading →