Archive for April 5th, 2016

Deeper Analysis

U.S. and Eurozone Service Sector PMIs in March

April 5, 2016

The U.S. non-manufacturing purchasing managers index climbed 1.1 points in March, while Euroland’s counterpart services PMI edged 0.2 points lower. ¬†In conjunction with an equally U.S.-advantageous shift in manufacturing PMI measures, the arithmetic sum of the two sets of PMI differentials¬†(U.S. minus Eurozone) swung to +1.6 — a 7-month peak — from -1.6 in February […] More

Central Bank Watch

Reserve Bank of India’s First Bi-Monthly Monetary Policy Review of Fiscal 2016/17

April 5, 2016

The main policy interest rate, the repo rate, was cut 25 basis points to 6.5%, lowest since 2011, while the reverse repo rate was hiked by 25 bps to 6.0%.  The narrowing of the corridor between the rates was one of several actions intended to strengthen the pass-through of changes in central bank policy rates […] More

Central Bank Watch

Reserve Bank of Australia

April 5, 2016

Australia’s official cash rate was left at the record low of 2.0% that has prevailed since a 25-basis point cut in May 2015, which followed a similar reduction enacted three months earlier.  Previously, the OCR was reduced in eight steps from 4.75% to 2.5% between November 2011 and August 2013.  A statement released after this […] More

New Overnight Developments Abroad - Daily Update

Gold and Yen Stronger but Stocks, Bond Yields, and Emerging Market Currencies Decline

April 5, 2016

The yen is 0.6% stronger on balance, powered by a fresh wave of safe-haven seeking capital flows.  Many service sector PMI reports were disappointing.  Japan’s index and its composite PMI fell to one-year lows, for example.  The yen touched 110.26 per dollar, its most appreciated level since October 2014.  Comex gold rose 1.3% to $1,231.59.  […] More

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