Archive for December 11th, 2015

Foreign Exchange Insights and Next Week

Next Week

December 11, 2015

Central Banks:  Interest rate policy meetings are scheduled at the Federal Reserve and in Mexico, Sweden, Norway, Japan, Chile, Colombia, Indonesia, Taiwan, Hungary, the Czech Republic and Thailand.  Minutes from the Reserve Bank of Australia’s December meeting get released.  The FOMC meeting, which is expected to produce a 25-basis point interest rate hike, will be […] More

Central Bank Watch

Bank of Russia

December 11, 2015

Russia’s one-week auction rate increased from 5.5% prior to March 2014 to 17% by the end of last year.  900 basis points of that tightening occurred in November and December alone, as Ukraine-related sanctions on Russian trade and plunging oil prices conspired to send the ruble into a tailspin.  With GDP imploding, the ultra-tight monetary […] More

Central Bank Watch

Central Reserve Bank of Peru Hikes Interest Rate

December 11, 2015

A second 25-basis point increase has been engineered in Peru’s monetary policy rate to 3.75%.  An initial move of same size was decided this past September.  A statement from monetary authorities observes above-target inflation expectations and a recent acceleration of on-year CPI inflation to 4.17% in November from 3.66% in October.  The target range is […] More

New Overnight Developments Abroad - Daily Update

Three Shocks Slam Global Financial Markets

December 11, 2015

Stocks are plunging and the 10-year Treasury yield fell seven basis points today in response to three developments. Oil prices fell 1.2% to $36.33 per barrel.  Commodities were hit by a projection from the International Energy Agency that the global oil surplus will persist for another year. China’s central bank website announced plans for the […] More

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