Archive for February 2018

Foreign Exchange Insights and Next Week

Next Week

February 23, 2018

Central Banks: Monetary policy reviews in South Korea, Israel, Ukraine, and Hungary. Fed Chairman Powell’s initial semi-annual Humphrey Hawkins testimony (Wednesday before the House Financial Services Committee and Thursday before the Senate Banking Committee). Fed also publishes its Beige Book of regional economic conditions. Manufacturing Purchasing Manager February Surveys: China, U.S., Japan, U.K, Euroland, Germany, […] More

New Overnight Developments Abroad - Daily Update

Mixed Market Action This Friday

February 23, 2018

The dollar fell overnight by 0.4% versus the peso, 0.3% against the yuan and sterling and 0.2% relative to the loonie but rose 0.5% against the kiwi, 0.1% versus the yen, and 0.2% vis-a-vis the euro, Swiss franc and Aussie dollar. Likewise, while Asian equities enjoyed a strong session, ones in Europe failed to retain […] More

New Overnight Developments Abroad - Daily Update

Dollar and Stocks Lower amid Some Softer European Data

February 22, 2018

The dollar dropped overnight by 0.5% against the yen, 0.3% relative to the peso and 0.1% vis-a-vis the Swiss franc, kiwi and Aussie dollar. The dollar firmed 0.2% relative to sterling and 0.1% versus the euro and is unchanged against the loonie. China reopened following the extended Lunar New Year holiday celebration. The yuan rose […] More

Central Bank Watch

FOMC Minutes

February 21, 2018

Minutes from the last Federal Open Market Committee on January 30-31, which also was the last one of the Janet Yellen era, note that economic growth in 2018 appears likely to be somewhat faster than imagined at the prior meeting. However, no urgency is expressed to speed up the likely progression of future interest rate […] More

New Overnight Developments Abroad - Daily Update

Some Weaker-Than-Expected European Data

February 21, 2018

Preliminary February purchasing manager survey estimates from the euro area and the latest British labor statistics were softer than forecast. The next significant market-moving event will be the release of FOMC minutes at 19:00 GMT today. The dollar rose 0.4% against the Aussie dollar and sterling, 0.2% relative to the loonie and 0.1% versus the […] More

Deeper Analysis

2017 GDP Growth and CPI Inflation in the U.S., Euroland and Japan

February 20, 2018

Economic growth slowed last quarter from the summer’s pace in the United States, Euroland and Japan but, also in each case was stronger in calendar 2017 than in 2016. U.S. GDP rose 2.6% at an annualized pace between 3Q and 2Q, down from 3.2% in the previous quarter and reflecting a combined 1.8 percentage point […] More

New Overnight Developments Abroad - Daily Update

Dollar and Oil Up But Almost Everything Else Down

February 20, 2018

Most markets with the notable exceptions of China and Taiwan are back open for business. Share prices are lower, with drops of 1.0% in Japan, 1.1% in South Korea, and 0.5% in Hong Kong. Morgan Stanley analysts warn of a bigger U.S. stock correction that seen earlier this month. Long-term U.S. interest rates resumed rising […] More

New Overnight Developments Abroad - Daily Update

Dampened Activity Due to Holidays in Asia and North America

February 19, 2018

The U.S. dollar is unchanged against the euro, peso, sterling and Canadian and New Zealand dollars.The greenback slipped 0.2% relative to the Aussie dollar and 0.1% vis-a-vis the Swiss franc but edged up 0.1% versus the yen. Several Asian markets remained closed for the Lunar New Year holiday, including those in China, Taiwan, Hong Kong, […] More

Foreign Exchange Insights and Next Week

Next Week

February 16, 2018

Holidays: Lunar New Year Closures Monday in China, Hong Kong and Singapore. China remains shut on Tuesday and Wednesday. U.S. and Canada are also closed on Monday for Washington’s Birthday and Family Day, respectively. Central Banks: Following a slew of central bank policy reviews during the past two weeks, the coming week has very few […] More

Central Bank Watch

No Change Made in Sri Lankan Monetary Policy Stance

February 16, 2018

The Central Bank of Sri Lanka’s standing deposit facility rate and standing lending facility rate have been at 7.25% and 8.75% since an increase of 50 basis points in July 2016. That was the second such reduction of 2016 and along with an earlier move in February reversed two percentage points of easing engineered between […] More

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