FOMC Minutes
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
Quiet Start to Wednesday
October 11, 2017
The dollar is marginally softer, with overnight dips of 0.3% against the peso, 0.2% versus the yen and Aussie dollar and 0.1% vis-a-vis the euro and Swiss franc. The dollar also rose 0.4% against the yuan and 0.1% relative to sterling but is flat against the loonie and kiwi. Tensions over Spain’s political situation eased […] More
FOMC Minutes
August 16, 2017
Minutes from the July 25-26th Federal Open Market Committee policy meeting revealed compartmentalized thinking on the two policy normalization issues. Committee members were split over whether a recent dip in inflation should in and of itself delay the next interest rate increase but unified on the need to publicize a road map soon of guidelines […] More
Several Data Surprises
April 5, 2017
ADP reported a resurgence of private jobs in the United States, which they estimate climbed 263K in March. The Labor Department monthly report arrives Friday. But the U.S. non-manufacturing purchasing managers index compiled by the ISM fell back 2.4 points to 55.2, with business activity retreating 4.7 points to a reading of 58.9. Likewise, a […] More
FOMC Minutes
February 22, 2017
Minutes from the January 31/February 01 meeting of the Federal Open Market Committee policy review revealed little information that contradict general perceptions of the current thinking and contingent intentions of policymakers. The meeting was the first after the one in December that had raised the federal funds target by 25 basis points. Donald Trump had […] More
Euro Dips Briefly Below $1.05
February 22, 2017
Concerns that European nationalism may break the EU apart caused the euro to dip to an overnight and 6-week low of $1.0493 and 10-year sovereign debt yields to fall five basis points in The Netherlands, 4 bps in Germany, 3 bps in France, Italy and Britain. Equity markets in Continental Europe are down 1.0% in […] More
Dollar Drops Against Yen, Yuan and Peso
January 5, 2017
The dollar fell overnight by 1.3% against the Mexican peso, 0.7% relative to the Japanese yen and 0.6% vis-a-vis the Chinese yuan. The U.S. currency also lost 0.2% to the Swiss franc and 0.1% versus the euro, loonie and Australian dollar but rose 0.3% against sterling and 0.1% relative to the kiwi. Share prices climbed […] More
Lower Dollar as Investors Await FOMC Minutes
January 4, 2017
The dollar depreciated overnight by 0.8% against the loonie, 0.5% relative to the yuan and kiwi, 0.4% versus sterling, 0.3% vis-a-vis the euro and 0.2% against the yen and Australian dollar. Japan reopened for a half day, and the Nikkei rose 2.4%, catching up for lost time. In other Pacific Basin stock markets, equities rose 1.7% […] More
FOMC Minutes
May 18, 2016
Participants agreed that their ongoing assessments of the data and other incoming information, as well as the implications for the outlook, would determine the timing and pace of future adjustments to the stance of monetary policy. Most participants judged that if incoming data were consistent with economic growth picking up in the second quarter, labor […] More
Some Better PMI Results but Investor Mood Stays Guarded
April 6, 2016
Stocks in the Pacific Rim fell 1.7% in Taiwan and 0.1% in Japan and China but rose 0.4% in Australia, South Korea and Singapore. Share prices in Europe are mixed, with rises of 0.6% in the U.K. and Switzerland, 0.7% in Italy and 0.3% in France and Spain but drops of 0.7% in Greece and […] More
