New Overnight Developments Abroad - Daily Update
February 13, 2020
Thursday has been a difficult day in world financial markets, absorbing the news of an exponential increase in suspected coronavirus cases, as well as the unexpected quitting of British Chancellor of the Exchequer Javid and departure of several other members of Prime Minister Johnson’s cabinet. Share prices tumbled 1.6% in Great Britain, 1.2% in Spain, […] More
Tags: coronavirus, Dutch GDP, German CPI, Japanese PPI, National Bank of Serbia, U.S. CPI
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Foreign Exchange Insights and Next Week
February 12, 2020
As a candidate for president and since stepping into that job, Donald Trump has disparaged virtually every aspect of his predecessor’s record including how he handled the economy. And while touting his own record, the U.S. economic performance of the past three years has looked like an extension of the Obama stewardship in several respects. […] More
Tags: U.S. economic economic trends under Obama and Trump
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New Overnight Developments Abroad - Daily Update
February 12, 2020
Fed Chairman Powell will reprise yesterday’s upbeat Humphrey Hawkins testimony today before the Senate Banking Committee. He characterized the U.S. economy as “in a very good place” and said policy would react to the coronavirus impact only if such proves “persistent and material.” Recent remarks by other Fed officials such as Harker, Daly, and Bullard […] More
Tags: Euroland industrial production, New Hampshire primary results, Reserve Bank of New Zealand, Swedish Riksbank
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New Overnight Developments Abroad - Daily Update
February 11, 2020
A pledge by China’s government to counteract any drag on growth from the coronavirus outbreak with fiscal support aimed at small and midsized companies boosted share prices in the Pacific Rim by 1.3% in Hong Kong and New Zealand, 1.0% in South Korea, 0.8% in Taiwan, 0.6% in India and 0.4% in Singapore and China. […] More
Tags: British GDP and industrial production, Powell's testimony, U.K. trade balance
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New Overnight Developments Abroad - Daily Update
February 10, 2020
The dollar is unchanged from Friday closing levels against the yen, Swiss franc, loonie, and kiwi, and it has edged a mere 0.1% lower relative to the euro, Aussie dollar and peso. Bigger drops can be seen of 0.3% versus the yuan and 0.4% relative to sterling. Share prices fell 0.5-0.8% in a number of […] More
Tags: Chinese CPI and PPI, coronavirus, Japanese current account
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Foreign Exchange Insights and Next Week
February 8, 2020
Central Banks: Monetary stances will be reviews by central banks in New Zealand, Sweden, Mexico, Peru, and Serbia. Fed Chairman Powell gives his semi-annual two-day congressional testimony on Tuesday-Wednesday, first before the House Financial Services Committee and then in reprise the following day before the Senate Banking Committee. Numerous other central bankers have will speak […] More
Tags: Economic Data Calendar
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Central Bank Watch
February 7, 2020
The Central Bank of Russia’s one-week repo rate was reduced further today. The cut was 25 basis points to 6.0%, matching similar moves in December, September, July, and June. Last October, such was cut by 50 basis points. A released statement flags the possibility of more easing ahead insofar as inflation has dropped more sharply […] More
Tags: Central Bank of the Russian Federation
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New Overnight Developments Abroad - Daily Update
February 7, 2020
The dollar rose overnight by a further 0.7% against the kiwi, peso, Russian ruble, and Aussie dollar and by 0.5% relative to the Chinese yuan. The dollar dropped 0.3% versus the yen and 0.1% vis-a-vis sterling but is unchanged against the euro. Intensifying concern about the spreading coronavirus epidemic provided an excuse for profit-taking in […] More
Tags: Central Bank of Russia, German industrial production, National Bank of Romania, U.S. labor market data
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Central Bank Watch
February 6, 2020
The Czech rate decision, a hike of the 2-week Czech National Bank repo rate to 2.25% from 2.0%, was a surprise and reflects a razor-thin 4-3 voting margin by the Monetary Board. Due in part to higher indirect taxes, CPI inflation has risen to 3.2%, highest since late 2012, and officials don’t expect such to […] More
Tags: Czech National Bank
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Central Bank Watch
February 6, 2020
Also as had been anticipated by analysts, the Filipino reverse repo rate was cut 25 basis points to 3.75%. Such is the fourth such reduction since last May and the first change since September. Inflation has risen to 2.9%, but that is still just in the middle of the central bank’s target of 2-4%. “the […] More
Tags: Bangko Sentral Ng Pilipinas
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