Foreign Exchange Insights and Next Week

Next Week’s Menu: December 28, 2019 – January 3, 2020

December 28, 2019

Central Banks: South Korea has a monetary policy review, and FOMC minutes will be published. Kaplan, Barkin, Evans, Daly, and Brainard are some of the Fed officials with scheduled public remarks. New Year Holiday: This is the most widely observed holiday of the year. Just about every country observes a holiday on January 1, and […] More

Next Week’s Menu: December 20-27, 2019

December 20, 2019

The coming week is the last full one of the 20-teens. It’s hard to believe that the 21st century is almost one-fifth completed. Holidays: Many markets will be shut all day or earlier than normal on Tuesday, Wednesday, and/or Thursday for Christmas Eve, Christmas Day, and Boxing Day. This sequence tends to squelch activity the […] More

Updating a Note Posted in December 2015 on Yearend Seasonality of the Dollar

December 16, 2019

In the early years after the United States adopted flexible dollar exchange rates in March 1973, the U.S. currency an astonishingly consistent pattern of depreciation against the mark during the second half of each December, dropping in thirteen out of fourteen years in one stretch. Like the euro now, theĀ  mark was then Europe’s predominant […] More

Next Week’s Menu: December 14-20

December 14, 2019

Central Banks: Monetary policy reviews in Japan, Sweden, Norway, Mexico, Indonesia, Hungary, the Czech Republic, Thailand, and Great Britain. Minutes from the last Reserve Bank of Australia meeting get published. Brainard, Evans, Williams, Rosengren and Kaplan of the Fed speak publicly, and so will Bank of Japan Governor Kuroda. Holiday: South Africans observe the Day […] More

Next Week’s Menu: December 7-13

December 6, 2019

Central Banks: The Federal Reserve and European Central Bank head a crowded field of monetary policy reviews next week that also includes central banks in Brazil, Switzerland, Russia, Ukraine, Turkey, Peru, Serbia and the Philippines. The Fed’s Open Market Committee and ECB Governing Council will be updating their macroeconomic forecasts, and Fed Chairman Powell and […] More

Next Week’s Menu: November 23-29th

November 22, 2019

Central Banks: Monetary policy reviews scheduled in South Korea, Israel and Sri Lanka. Fed Beige Book of regional economic conditions to be published. ECB chief economist Lane and Reserve Bank of Australia Deputy Governor Debelle speak publicly. Holidays: Japanese Labor Thanksgiving on Monday. U.S. Thanksgiving on Thursday and an early close of the U.S. Treasury […] More

A Favorable Dollar Outlook

November 18, 2019

The dollar has performed well for nearly two years now, advancing by around 9.5% compared to its January 2018 low on a trade-weighted basis against other major traded currencies. Relative to specific currencies in that span, the greenback has appreciated 12.0% against the euro, 11% versus the Chinese yuan, 9.2% vis-a-vis sterling, and 5.1% against […] More

Next Week’s Menu: November 16-22

November 15, 2019

Central Banks: Monetary policies to be reviewed in Indonesia, Hungary, China and South Africa. Policy meeting minutes to be published by the Fed, Reserve Bank of Australia, and European Central Bank. Reserve Bank of Australia Governor Lowe, Bank of Canada Governor Poloz, and ECB President Lagarde will be speaking publicly. Special Events and Holidays: A […] More

Next Week’s Menu: November 9-15

November 8, 2019

Central Banks: Monetary policy reviews are scheduled next week in New Zealand, Sri Lanka, the Philippines and Mexico. Fed Chairman Powell gives two days of testimony on the U.S. economic outlook, appearing Wednesday before the Senate Economic Committee and Thursday before the House Budget Committee. Other Fed officials speaking in public during the week include […] More

Next Week’s Menu: November 2-8, 2019

November 2, 2019

Central Banks: Monetary policy meetings scheduled in the U.K., Peru, India, Australia, Czech Republic, Romania, Poland, Iceland, Thailand, Malaysia and Serbia. Bank of Japan Board minutes and Reserve Bank of Australia’s quarterly Statement on Monetary Policy to be published. Following Fed officials to speak publicly: Barkin, Bostic, Williams, Evans, Kaplan, and Daly. ECB President Lagarde […] More