Foreign Exchange Insights and Next Week
Tale of Three Dollars
January 16, 2014
The Canadian, New Zealand, and Australian dollars are hybrid currencies. These monies are used in well developed, industrialized economies, but they are nevertheless strongly influenced by factors affecting the currencies of emerging markets. Each economy has a strong commodity sector. Economic conditions in each vary with the ups and downs of a strong regional power, […] More
Central Bank Watch
Central Bank of Brazil
January 16, 2014
The monetary policy committee, Copom, raised Brazil’s Selic Rate by 50 basis points, twice as much as expected. There were also increases of 50 basis points implemented last year in November, October, August, July and May as well as an initial 25-bp hike done in April. The new Selic Rate of 10.5% hasn’t been this […] More
Central Bank Watch
Bank of Serbia
January 16, 2014
Serbia’s one-week repo rate had ben cut last year by 50 basis points in May, 25 bps in June, and 150 bps in 4Q through a 50-bp move each month of the quarter. Analysts anticipated another cut today, the central bank executive board instead left the key rate at 9.5% and issued a statement that […] More
New Overnight Developments Abroad - Daily Update
Weaker Aussie Dollar and a Bunch of Items of Interest
January 16, 2014
The Aussie dollar fell 1.2% against its U.S. counterpart. The U.S. dollar otherwise slipped 0.3% against the loonie and Swiss franc, 0.2% relative to the yen and 0.1% against the euro. The dollar also firmed 0.2% against the kiwi, yuan and sterling. Brazil’s Selic interest rate has been raised by a further 50 basis points […] More
