Magyar Nemzeti Bank

January 24, 2017

Hungary’s central bank base rate has been at 0.90% since a third consecutive monthly cut 0f 15 basis points administered last May. Officials voted at this month’s meeting not to change the rate. While discussing circumstances that might warrant a further easing in the future through unconventional means, a released statement makes no asymmetric hint […] More

Non-Manufacturing Activity in the U.S. and Euro Area

January 5, 2017

The U.S. non-manufacturing purchasing managers index remained flat at 57.2 in December. Not since October 2015 has the NMI been higher than this level. In December, a 4.6-point improvement in the sub-index for new business to 61.6 was counterbalanced with a 4.4-point drop in jobs to a reading of 53.8. Along with today’s smaller-than-forecast ADP estimate […] More

Bank Indonesia

December 15, 2016

From 6.25% at the start of 2016, the BI seven-day reverse repo rate was cut by 25 basis points each in January, February, March, June, September and October to the current level of 4.75%, which was held steady at this month’s meeting. The next meeting will be in February, as January is always skipped. Today’s […] More

Latest U.S. and Euroland Manufacturing Trends

December 1, 2016

The Institute of Supply Management’s U.S. manufacturing purchasing managers index jumped 1.3 points to a five-month high of 53.2 in November. Sub-indices for production and orders went up 1.4 points and 0.9 points. Euroland’s comparable index, compiled by Markit Economics, went up much more modestly, rising 0.2 points to 53.7. The German and French indices […] More

Stocks and Mexican Peso Fall

November 9, 2016

The U.S. election gave the Republican Party control of the White House, both bodies of congress, and the wherewithal to secure a conservative tilt to the Supreme Court for the foreseeable future. Trump upset Clinton by capturing all the southern states except Virginia and most of the Midwest. He appealed especially to white men without […] More

September Improvement of U.S. Manufacturing Exceeds Ezone’s Improvement

October 3, 2016

The U.S. manufacturing PMI reading last month of 51.5 was lower than Euroland’s score of 52.6.  It was the eleventh time in the last fourteen months that such had happened. However, the differential between the two scores was halved. After five straight readings above the 50 no change level, the U.S. Purchasing Managers Index had […] More

Global Market Turmoil Fanned by Intensifying Concern over Clinton’s Health

September 12, 2016

West Texas Intermediate crude oil dived 2.1% and is trading back below $45 at $44.94 per barrel. Gold dipped 0.4% to $1,328.60 per ounce. Japan’s Nikkei slumped 1.7%. Other stock markets around the Pacific Basin fell 3.8% in Hong Kong, 2.7% in New Zealand, 2.2% in Australia, 2.3% in South Korea, 1.9% in China, 1.7% […] More

National Bank of Serbia Leaves Policy Rate at 4.0% and Expresses More Optimism

August 11, 2016

Serbia’s central bank policy rate had been halved in nine steps between March 2015 and July 2016 from 8.0% to 4.0%. Officials saw no need to ease further at the August review. Serbian inflation, foreign rates of inflation, and domestic aggregate demand are projected to rise. Serbia is considered more immune from external shocks because of […] More

Post-Jobs Report Rally Extended

August 8, 2016

World stocks, oil, and emerging market currencies rose in further reaction to Friday’s better-than-expected U.S. jobs data that showed a 255K increase in employment last month and marginally stronger wage growth. Share prices advanced 2.4% in Japan, 1.7% in Hong Kong, 0.9% in China, 0.7% in Australia and South Korea, 0.6% in Taiwan and 1.5% […] More

Brexit on the Mind and a U.S. Birthday

July 4, 2016

On this 240th anniversary of the U.S. Declaration of Independence, U.S. markets are closed, depleting currency markets of some leadership.  The dollar is little changed against other monies like the euro, yen and sterling. Nigel Farage, head of the UKIP Leave Party, resigned, creating more confusion about Britain’s next government and when the Brexit timetable […] More