Foreign Exchange Insights and Next Week

Next Week

April 21, 2017

Central Banks: Monetary policy meetings are scheduled in Japan, Euroland, Sweden, Colombia, Russia, Turkey and Hungary. BOJ Governor Kuroda and ECB President Draghi will hold press conferences. The BOJ Board publishes an updated Outlook of Economic Activity and Prices. The governor of the Reserve Bank of Australia and President of the Swiss National Bank also […] More

Next Week

April 13, 2017

A lean holiday-shortened week lies ahead both from a data-release and central bank standpoint. Central Banks: Bank Indonesia holds an interest rate policy meeting on Thursday. Minutes from the last Reserve Bank of Australia meeting get released. So does the Fed Beige Book that examines regional U.S. economic trends. Eric Rosengren has a public speaking […] More

U.S. Foreign Exchange Policy

April 10, 2017

The Treasury Department is the government agency responsible for establishing and enforcing U.S. currency market policy. ¬†The Secretary of the Treasury, aided by the Under Secretary for International Monetary Affairs, is the chief¬†currency policy spokesman and negotiator. Former Treasury Secretary James Baker, for example, represented the United States when the Group of Five agreed to […] More

Next Week

April 7, 2017

Central Banks: Interest rate policy meetings in Canada, South Korea, Brazil, Chile, and Serbia. The Bank of Canada will publish a quarter Monetary Policy Report. Fed officials making public appearances in the week included Chair Yellen and District Presidents Bullard and Kashkari. Good Friday Holiday: Markits will be shut April 14th in a wide range […] More

Next Week

March 31, 2017

Central Banks: Interest rate-setting meetings scheduled in Australia, Israel, India, Poland, Romania and Peru. Minutes from the last policy meetings of the Fed FOMC and ECB Governing Council will be published. Tarullo, Harker, and Williams are some of the Fed officials speaking publicly. Bank of Japan Kuroda and Assistant Governor Debelle of the Reserve Bank […] More

Ceteris Paribus

March 28, 2017

Forecasting the dollar has been infinitely complicated by all the crazy stuff going on in U.S. politics, other populist movements, and changing policies. In theory, current economic conditions and their projected trends ought to be front and center in this process, but that’s far easier said than done. To simplify things when constructing predictive models, […] More

Next Week

March 24, 2017

Central Banks: Interest rate meetings in South Africa, the Czech Republic, Romania, Czech Republic, Mexico and Thailand. BOJ releases summary of mid-March Board meeting. Fed officials scheduled to speak publicly include Kaplan, Evans, Williams, George, and Rosengren. Other monetary policymakers speaking in public are Governor Zhou of the People’s Republic of China, Governor Poloz of […] More

Comments on G20 Communique and Medium-Term Macroeconomic Expectations

March 19, 2017

The Group of Twenty finance ministers and central bank leaders met for two days in Baden-Baden, Germany and released a statement on Saturday that is notable for two omissions. The first deletion concerns trade and exchange rate policy. The pledge regarding currency management wasn’t changed and still states, We reiterate that excess volatility and disorderly […] More

Next Week

March 17, 2017

Central Banks: Monetary policy reviews in New Zealand, Sri Lanka, Russia, The Philippines, and Colombia. Minutes of prior policy meetings to be published by the Bank of Japan and Reserve Bank of Australia. Fed officials speaking publicly include Chair Yellen, Evans, Kashkari, Mester, Dudley, George, and Bullard. The size of a new ECB targeted long […] More

Next Week

March 10, 2017

Central Banks: Wednesday’s FOMC meeting heads a crowded week of interest rate policy meetings that also includes Japan, Switzerland, Great Britain, Turkey, Indonesia, Norway, Chile, Iceland, and Serbia. The Fed is expected to raise the federal funds target by 25 basis points. New macroeconomic projections will be unveiled, and Janet Yellen will conduct a press […] More