Foreign Exchange Insights and Next Week
Next Week
November 21, 2014
Holiday closures in the U.S. and Japan: Japanese markets are closed Monday for Labor Thanksgiving, and U.S. markets will be closed or short-staffed from Wednesday onward for the Thanksgiving Day holiday. Friday is the biggest U.S. shopping day of the year. At a difficult time for the OPEC cartel, oil ministers will hold a meeting […] More
Central Bank Watch
People’s Bank of China Reduces One-Year Lending Rate by 40 Basis Points to 5.60%
November 21, 2014
In addition to the lending rate reduction announced today and effective tomorrow, monetary officials lowered the one-year deposit rate by 25 basis points to 2.75% and lifted the upper limit of the floating range of interest on the deposits of financial institutions from 1.1 times to 1.2 times. Chinese monetary policy easing came in from […] More
New Overnight Developments Abroad - Daily Update
Market-Moving Comments and Then a Chinese Interest Rate Cut
November 21, 2014
ECB President Draghi gave a dovish speech reaffirming the central bank’s readiness to take further action to lift inflation back to target. U.S. President Obama spoke to the nation in prime time, announcing plans to permit some 5 million undocumented residents not to be deported. San Francisco Federal Reserve President Williams warned about the danger […] More
