Archive for July 1st, 2014

Deeper Analysis

U.S. Minus Ezone Factory PMI Spread Widened Slightly in June

July 1, 2014

The U.S. PMI dipped by 0.1 to a reading of 55.3, but the euro area manufacturing index declined by 0.4 points to 51.8.  The differential between those measures of activity consequently widened to 3.5 points, largest since December, from 3.2 in May.  The euro averaged $1.360 per month in June, marking the seventh month in […] More

Central Bank Watch

Australian Official Cash Rate Held at 2.5% Record Low as Expected

July 1, 2014

The statement from Governor Stevens released today asserts that Markets appear to be attaching a very low probability to any rise in global interest rates over the period ahead. Australian growth will be “a little below trend over the year ahead.” Domestic costs remain “contained.” The fundamentally excessive value of the Aussie dollar continues to […] More

New Overnight Developments Abroad - Daily Update

June PMIs and Quarterly Japanese Tankan Survey Results Reported

July 1, 2014

The start of the third calendar quarter finds the dollar unchanged overnight against the euro, Swissie, loonie and kiwi, up 0.2% relative to the yen but down 0.2% versus the Aussie dollar and 0.1% vis-a-vis sterling. There’s been a big protest march in Hong Kong on the seventeenth anniversary of its return to Chinese rule.  […] More