Archive for August 1st, 2016

Central Bank Watch

Australian Official Cash Rate Cut to Record Low 1.50%

August 1, 2016

The Reserve Bank of Australia was reduced 50 basis points in late 2011, 100 basis points in 2012, 50 bps in 2013, 50 bps in 2015 and, with this latest cut of 25 basis points, another 50 basis points in 2016.  The assessment of Australia’s economy in a released statement reads similarly to the wording […] More

Deeper Analysis

U.S. Retains Narrow Advantage in Manufacturing over Euroland

August 1, 2016

The U.S. manufacturing purchasing managers index fell 0.6 points in July, while its eurozone counterpart dropped by 0.8 points.  Each measure remained above the 50 line of demarcation between improving and deteriorating conditions at 52.6 and 52.0, respectively. The dollar on average strengthened a bit over 1.5% month on month to its strongest euro value […] More

New Overnight Developments Abroad - Daily Update

Oil Down but Bond Yields and Dollar Up

August 1, 2016

Many manufacturing purchasing managers surveys were published on this first day of the month. West Texas Intermediate crude oil sank 1.8% to $40.86 per barrel. Gold edged 0.2% lower. 10-year sovereign debt yields rose six basis points in Japan, 3 basis points in the U.S. and U.K., and two basis points in Germany. The dollar […] More

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