Archive for July 2nd, 2014

Central Bank Watch

National Bank of Poland

July 2, 2014

It’s been a year since Poland’s key monetary policy interest rate was cut by 25 basis points to 2.5%, culminating 225 basis points of easing that began in November 2012.  Monetary Policy Committee members again agreed to leave their stance as it is, but they released a dovish statement today that cites several indications that […] More

Foreign Exchange Insights and Next Week

Mid-2014 Currency Review

July 2, 2014

Not much was settled in the first half of 2014.  Global growth continued to be sluggish.  The euro area emerged from recession but just barely, and its members experienced divergent trends.  Although expanding rapidly compared to advanced economies and many emerging ones, Chinese growth is several percentage points slower than its old norm, and that […] More

New Overnight Developments Abroad - Daily Update

Australian Dollar Softens on Plunge in Exports to China

July 2, 2014

The U.S. currency climbed 0.4% against the Australian dollar but is otherwise hardly changed overnight. Australian exports dropped 4.6% in May, thanks to a 12% plunge in shipments to China.  Aussie imports were 0.6% lower on month, and the trade deficit of 1.9 Aussie dollars was the largest shortfall since November 2012.  April had experienced […] More