November 21, 2023
The dollar fell overnight by 0.7% against the yuan, 0.5% versus the yen but just 0.2% relative to sterling and 0.1% against the euro and Swiss franc. Investors await the release at 20:00 GMT today (15:00 EST) of FOMC minutes. Ordinarily a Wednesday event, such are being released a day early due to the upcoming […] Read Article
November 28, 2023
With only a month left in 2023, this year ranks comparatively low in net dollar movement against other highly traded currencies. The range against the euro from a high of $1.0506 in October from a low $1.1243 in July constitutes a trading range spread of just 7.0%, and the current rate of $1.0993 is a […] Read Article
November 7, 2023
As expected, officials at the Reserve Bank of Australia ended a five-month pause in their interest rate-tightening cycle, which previously had seen the Official Cash Rate climb from a pandemic low of 0.10% (Nov 2020-May 2022) to 3.1% by the end of 2022 and 4.1% by early June of this year. Today’s increase was by […] Read Article
November 30, 2023
Financial market movements in November 2023 were dominated by decelerating inflation around the world, falling energy prices and the consequence of those trends on expectations of future monetary policies. Central bank benchmarks for short-term interest rates were changed in only a couple of instances, including Australia (+25 basis points), Turkey (+500 basis points), Brazil (-50 […] Read Article
November 20, 2023
The dollar fell overnight by 1.0% against the yen, 0.7% versus the kiwi, 0.6% vis-a-vis the Australian dollar and Chinese yuan, 0.3% against the Mexican peso, 0.2% versus the Swiss franc and 0.1% relative the the euro and sterling. Data and event highlights this week will include Federal Reserve FOMC minutes, the British Autumn Statement […] More
November 17, 2023
With the Thanksgiving holiday less than a week away, 2023 is moving into the home stretch with plenty of unanswered questions. Investors wonder how the twin wars in Ukraine and Gaza will resolve and whether the federal funds rate has in fact crested and, if so, how long it will stay at its peak. Will […] More
November 17, 2023
Central Banks: Minutes from recent policy review meetings will be published by the Fed, Reserve Bank of Australia and European Central Bank. Monetary policy reviews are scheduled in Sweden, Iceland, Sri Lanka, Turkey, South Africa, Indonesia and at the People’s Bank of China. Central bank officials with public speaking engagements include Reserve Bank of Australia […] More
November 16, 2023
In addition to the usual Thursday weekly report on jobless insurance claims, the U.S. data menu features import prices and industrial production and also includes the Philly Fed and K.C. Fed manufacturing surveys, the NAHB monthly housing market index, capacity utilization, and Treasury-compiled capital flows between the U.S. and other countries. So far, financial markets […] More
November 15, 2023
The U.S. producer price index dropped 0.5% on month (most in 42 months) and recorded a 3-month low of 1.3% when compared to the same month a year earlier. Core producer prices — unchanged versus September and +2.4% year-on-year — was 0.3 percentage points below expectations. U.S. October retail sales contracted by a smaller-than-anticipated 0.1% […] More
November 14, 2023
Analysts expect to learn of a further dip in U.S. inflation last month shortly. While waiting for confirmation, financial markets around the world marked time overnight. Dollar changes against other major currencies were held to plus or minus 0.2%. U.S. stock futures are likewise steady. Share prices in the Pacific Rim closed up 0.3% in […] More
November 13, 2023
The dollar edged 0.2% higher overnight against the Japanese yen, Canadian dollar, Swiss franc, and both the Aussie and New Zealand currencies. The dollar firmed 0.1% against the euro but slid 0.1% relative to sterling. Share prices in the Pacific Rim closed mixed, with gains of 1.3% in Hong Kong and 0.9% in Taiwan but […] More
November 11, 2023
Central Bank News: Filipino monetary policy will be reviewed. Special Focus: U.S. and Chinese Presidents Biden and Xi to hold talks Wednesday on the sideline of the APEC Conference in San Francisco. Temporary debt ceiling deadline on November 17 to avoid federal shutdown. Scheduled U.S. Data Releases: Consumer prices, producer prices, import prices, retail sales, […] More
November 9, 2023
Fed Chairman Powell‘s remarks yesterday didn’t touch on current monetary policy, but he’ll be speaking publicly again today. Investors are hoping for clarification regarding what the Fed is likely to do. Two earthquakes of slightly more than 5.0 on the Richter scale in the oil-producing region of Texas injects confusion into the next move in […] More
November 8, 2023
Federal Reserve Chairman Powell is scheduled to speak today at the central bank’s Research & Statistics Division centennial conference. Vice Chairman Jefferson also will be making remarks there. Remarks by Fed officials since Powell’s press conference on November 1 have tended to be more hawkish than the perceived message of the FOMC a week ago, […] More
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