Foreign Exchange Insights and Next Week
Dollar Preeminence Among Reserve Currencies Not in Urgent Danger
June 5, 2017
In the wake of the Second World War, the dollar replaced sterling as the most widely favored reserve currency. A reserve currency has to be trusted as a store of value, denomination for invoicing payments, and currency in which to conduct trade and do financial transactions. Governments and international organizations have great needs for reserve currencies, […] More
Deeper Analysis
U.S. Non-Manufacturing PMI and Ezone Services PMI Compared
June 5, 2017
The 0.6-point difference in May between the ISM non-manufacturing purchasing managers index (56.9) and the euro zone services PMI compiled by IHS Markit (56.3) was 0.5 points smaller than in April. IHS Markit also measures a U.S. services PMI, and this rose by 0.5 points to 53.6. As was the case with the two economies’ […] More
New Overnight Developments Abroad - Daily Update
Geopolitics, Not PMI Data, Attracting Attention Today
June 5, 2017
Middle East tensions swelled further as Saudi Arabia, Bahrain, the U.A.E. and Egypt broke off diplomatic relations with Qatar. The weekend terrorist attack in London took a new turn, as President Trump used the opportunity to reiterate several positions that he has taken. He said the incident proved the need for the originally proposed 90-day […] More
