Foreign Exchange Insights and Next Week
Currency Words
February 7, 2013
Currency market participants spend considerable time waiting for uncertain areas of interest to become better clarified. By the time that happens, other mysteries overtake investor psychology, and the market moves on to another issue. At this moment, attention has been captured by the attempt of several governments to manipulate exchange rates in the hope of […] More
Central Bank Watch
Bank of England Didn’t Change QE but Released a Detailed Statement Anyway
February 7, 2013
The Monetary Policy Committee almost never gives immediate information on meeting discussions unless it has changed policy. This meeting was one of the extremely few exceptions, which in itself could be the biggest story. Rather detailed remarks in a released statement conclude The Committee discussed the appropriate policy response to the combination of the weakness […] More
Central Bank Watch
ECB Review: No Big Surprises
February 7, 2013
ECB interest rates — a 0.75% refinancing rate flanked by a zero deposit rate and a 1.50% marginal lending rate — were left unchanged as expected. They’ve been at these levels since last July’s easing. Remarks on growth and inflation were consistent with what has been said in the recent past including at January’s meeting […] More
New Overnight Developments Abroad - Daily Update
Focus on Bank of England and ECB
February 7, 2013
The dollar is narrowly mixed with gains of 0.4% against the kiwi, 0.2% versus the euro and yen, and 0.1% against the Australian dollar but declines of 0.3% versus the Swiss franc and sterling and 0.1% relative to the loonie. The yuan is steady. After Wednesday’s 3.8% leap, the Nikkei settled back 0.9%. Elsewhere in […] More
