January 20, 2020
U.S. markets will be closed today for Martin Luther King Jr’s birthday. In the absence of U.S. leadership, the dollar has been mostly steady, with no net change against the yen, loonie, or peso, overnight upticks of 0.2% against the renminbi, kiwi, Aussie dollar and sterling, a 0.1% relative to the euro and a 0.1% […] Read Article
January 17, 2020
Central Banks: Monetary policies to be reviewed in Indonesia, Japan, Malaysia, Canada, Norway, and at the European Central Bank. People’s Bank of China will decide its loan prime rate for the next month. Bank of Japan publishes minutes from its December meeting and a new quarterly Outlook for Economic Growth and Prices, and Bank of Canada […] Read Article
January 16, 2020
Policymakers at the South African Reserve Bank voted unanimously to cut the central bank’s repo rate by a further 25 basis points to 6.25%. This follows an initial 25-bp cut last July that reversed a 25-bp hike in November 2018. In a released statement, bank officials announced downward revisions to the growth path, which overall […] Read Article
January 14, 2020
China had been designated as a “currency manipulator” last August, but that label is being rescinded on the eve of the Phase One U.S.-Sino trade pact. In theory, retaliatory actions can be more speedily imposed by the President on so-called currency manipulators, but the switch in designation in reality will make little practical difference. In […] Read Article
January 17, 2020
The dollar fell 0.3% against China’s renminbi but advanced 0.2% versus the euro, kiwi and Swiss franc and by 0.1% relative to the loonie. The dollar remained steady against the yen, sterling, and Australian dollar. The recent upturn in share prices was extended in the Pacific Basin and Europe, with gains of 0.6% in New […] More
January 16, 2020
In the 2017 American League Championship Series between the Astros and Yankees, the home team won all seven games. In light of the revelation that the Houston Astros that year used electronic devices to steal opposing pitcher signs and relay such helpful information to their batters just before the pitch, partisan claims have been made […] More
January 16, 2020
The Central Bank of the Republic of Turkey’s one-week repo rate was cut by 75 basis points to 11.25%. Analysts had been projecting a likely 50-bp cut. Today’s moves follow consecutive cuts of 425 basis points last July, 325 bps at September’s meeting, 250 bps in October and 200 bps last month. Even though the […] More
January 16, 2020
The dollar rose 0.1% overnight against the yen but slipped by 0.3% versus sterling and the Australian dollar, 0.2% relative to the Chinese Renminbi and Swiss franc, and 0.1% versus the euro and loonie. Share prices in the Pacific Rim advanced 0.7% in Australia, New Zealand and Singapore, 0.8% in South Korea, 0.1% in Japan, […] More
January 15, 2020
If all goes as planned, the Phase One trade deal between China and the United States will be signed today, but significant tariffs remain. The quarterly meeting of branch managers at the Bank of Japan downgraded economic conditions in three of the nine main regions but found none to be experiencing contracting growth and remained […] More
January 14, 2020
Compared to closing levels yesterday, the dollar is unchanged against the yen, peso, and sterling, up 0.3% against the kiwi, 0.2% versus the euro, and 0.1% relative to the Canadian and Australian dollars but down 0.2% against the Swiss franc and 0.1% versus the Chinese yuan. Phase One U.S.-Sino trade pact is reportedly ready to […] More
January 13, 2020
Lessening Dollar Volatility: Closing quarterly quotes for the euro against the U.S. currency last year painted a tight shot group of $1.1217 in 1Q, $1.1373 at midyear, $1.0900 in the third quarter and $1.1219 at yearend. If one substitutes dollar/mark for EUR/USD for years prior to 1999, the 4.3% spread between the most disparate of […] More
January 13, 2020
Sterling fell 0.6% against the dollar overnight. British industrial production, down 1.2%, posted the largest monthly decline in seven months during November and was 1.6% lower than a year earlier. Factory output dropped 1.7% on month and 2.0% on year. November’s monthly measure of U.K. GDP showed a 0.3% decline and the smallest 12-month rate […] More
January 10, 2020
Central Banks: Turkey, South Africa and South Korea are holding scheduled monetary policy reviews. Bank of Japan Branch managers hold a quarterly meeting and will release a report on regional economic conditions. The Federal Reserve’s regional study known as the Beige Book gets published. Minutes from the last European Central Bank Governing Council meeting will […] More
January 10, 2020
Markets marked time ahead of the U.S. December labor market statistics. The dollar didn’t react much afterward, either. As of 08:10 EST, the dollar was up 0.2% against the Swiss franc and 0.1% relative to the euro and yen. The greenback was unchanged vis-a-vis the loonie and kiwi but down by 0.3% against the peso […] More
Currency Thoughts has evolved from a blog to a full-functioning website. This new design provides easier access to your favorite features and new capabilities to accept ads. In the future, it will be possible to register to accept emailed updates.
Posts