Archive for November 11th, 2011

Foreign Exchange Insights and Next Week

Next Week

November 11, 2011

Central banks hold policy meetings next week in Japan and Chile, while minutes from the November Australian central bank meeting will be released.  The Bank of Japan monthly assessment and the Bank of England’s quarterly Inflation Report arrive, too. Japan and the euro area release 3Q GDP figures.  The latter will include an estimate for […] More

Foreign Exchange Insights and Next Week

Currencies Dancing to the Beat of News Headlines

November 11, 2011

Intra-day volatility continues to dwarf any sense of purposeful direction in the arena of foreign exchange.  News headlines related to the euro debt crisis are producing wild swings in equities as well.  The dollar at 16:00 GMT today was a mere 0.4% stronger against the euro than its closing value last week.  It had fluctuated […] More

Central Bank Watch

Malaysian Monetary Policy on Pause since May to Remain So

November 11, 2011

Bank Negara Malaysia had already made four rate increases, each of 25 basis points, in March, May, July of 2010 and May of this year, but policy has been paused for the past six months.  The final policy meeting of 2011 decided to leave the overnight policy interest rate unchanged yet again at its current […] More

Central Bank Watch

A More Dovish Statement from the Bank of Korea

November 11, 2011

The seven-day repo rate was left at 3.25% for the fifth time in a row.  Five previous rate increases of 25 basis points each were implemented in July and November of 2010 and January, March and June of this year.  During the current policy pause, Bank of Korea officials had maintained a tightening bias, but […] More

Central Bank Watch

Peruvian Central Bank Reference Rate Left Unchanged at 4.25%

November 11, 2011

This decision takes into account the lower growth being recorded by some components of expenditure, as well as the intensification of international financial risks. Should these trends continue, the Central Bank will change its monetary policy stance. A statement from officials at the Central Reserve Bank of Peru from which the above passage is excerpted […] More

New Overnight Developments Abroad - Daily Update

11-11-11: One’s Are Wild

November 11, 2011

It’s Veterans Day in the United States, France and Canada.  The Armistice to end the First World War was signed 93 years ago today.  Overnight market activity was comparatively subdued, but closures for today’s holiday will be only partial.  U.S. stock markets are open. The new Greek cabinet to be headed by Lucas Papademos has […] More

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