Foreign Exchange Insights and Next Week
Next Week
November 9, 2012
A very busy week lies ahead despite holiday closures in a number of markets on Monday for Armistice Day/Veterans Day. On the central banking beat, FOMC minutes, the Bank of England Inflation Report, and the ECB Bulletin get released. Iceland has a scheduled central bank policy meeting. The U.S. Congress reconvenes with the all-important task […] More
Central Bank Watch
Bank of Korea Keeps 2.75% Interest Rate
November 9, 2012
Having cut the seven-day repo rate by 25 basis points in October, it wasn’t a big surprise to see the Bank of Korea not change the rate at its November policy meeting. But a rather dovish statement released today calls Korean growth “still weak” and predicts that a negative output gap will “persist for considerable […] More
Foreign Exchange Insights and Next Week
Has the U.S. Election Changed the Foreign Exchange Landscape?
November 9, 2012
The last year has seen more choppiness than trend in key dollar relationships. Such inertia has been blamed in large part on the high level of uncertainty, and the outcome of the U.S. presidential election was a central source of that uncertainty. Note below the similarity of the dollar’s averages during the twelve months before […] More
New Overnight Developments Abroad - Daily Update
Election Hangover
November 9, 2012
Global share prices have been falling since the U.S. election. Today saw losses of 0.9% in Japan, India, and Hong Kong and 0.5% in Australia and South Korea. In Europe, the Spanish IBEX is down 1.0%, and the German Dax has lost 0.9%. In times of risk aversion, the yen and dollar tend to outperform. […] More
