Bank of Norway

Share Prices Down as U.S. and China Exchange Mutually Destructive Tariff Threats

May 9, 2019

It’s crunch time in the U.S.-Sino trade negotiations, and investors are hedging against the worst. The dollar climbed 0.6% against the yuan overnight. The price of Comex gold firmed another 0.2%, while WTI oil slid 0.3% and under $62. The 10-year U.S. Treasury yield popped higher after a poorly received Treasury auction yesterday but then […] More

Bank of Norway Tightens

March 21, 2019

The Bank of Norway’s policy interest rate was lifted 25 basis points to 1.0%. Norway is an oil producer and exporter and benefits from the firmer trend lately in that commodity. Growth has been solid, according to a released statement.¬† Capacity usage is running a bit above normal, and core CPI inflation is somewhat higher […] More

Theme of the Day: Slowing Global Growth

March 21, 2019

Since the Federal Reserve’s policy decision and press conference yesterday, there’s been a parade of other central bank policy meetings. Although only Norway changed its policy rate — a hike no less — the running theme in the many central bank statements is that the slowdown in global demand late last year is continuing and […] More

Anxious Times for Investors

January 24, 2019

Investors continue to face three big uncertainties: the U.S. government shutdown, the fast-approaching Brexit deadline, and the failure so far of U.S. and Chinese trade negotiators to reach a mutually satisfying agreement. Planned senate votes on the border wall and shutdown are not likely to pass. The on-again, off-again scheduled state of the union address […] More

Many Central Bank Meetings and a Stunning Deceleration of U.S. Import Price Inflation

December 13, 2018

The dollar shows no net overnight change against the Swiss franc, Chinese yuan, New Zealand dollar, or Canadian dollar. The greenback rose 0.8% versus the Mexican peso, 0.4% relative to the yen, and 0.1% versus the euro while dipping 0.1% vis-a-vis the Australian dollar and sterling. Asian equities rallied, but share prices in Europe and […] More

Focus Turns to Central Banks

October 25, 2018

The dollar this Thursday is narrowly mixed with upticks of 0.2% against the yen and Swiss franc and of 0.1% versus the loonie but downticks of 0.3% vis-a-vis the Aussie dollar and peso, 0.1% relative to sterling, the euro, and kiwi. The yuan is steady. Japan’s Nikkei plunged 822 points or 3.7%. Share prices also […] More

Softer Dollar

September 20, 2018

The dollar fell overnight by 0.8% against the kiwi, 0.6% relative to sterling, 0.4% vis-a-vis the euro and 0.2% versus the currencies of America’s NAFTA partners. The yen and yuan are unchanged. China partly matched Trump’s latest round of tariff hikes. While the 10-year German bund and British gilt yields settled back a basis point […] More

Yuan Rebounds and U.S. Stocks Set to Rise Too

August 16, 2018

Equity losses early in Asia’s session were trimmed after an announcement¬† from China’s Minister of Commerce Wang Shouwen that China accepts the invitation from U.S. Undersecretary of the Treasury Malpass to resume trade talks. Talks broke down in June. A delegation of Chinese officials will visit the U.S. late this month for new talks, kindling […] More

Bank of Norway

January 25, 2018

The Bank of Norway kept its key policy rate steady at 0.50%, the level since a 25-basis point cut in March 2016 capped 175 basis points of easing since 2011. In a released statement, members of the executive board of the central bank asserted that “the outlook and the balance of risks for the Norwegian […] More

Dollar Extends January Losses

January 25, 2018

The dollar declined overnight by 0.5% versus the yuan, 0.4% relative to the Swiss franc and sterling, and 0.2% against the euro, yen, and peso. President Trump arrived in Europe to attend the Davos World Economic Forum. His threat of protectionism is now transitioning into actual action. The Governing Council of the European Central Bank […] More

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