New Overnight Developments Abroad - Daily Update
December 1, 2022
November purchasing manager surveys released today paint a very gloomy picture, with activity declining at the fastest pace since May 2020 (near Covid ground zero) in the United States (according to both the ISM and S&P Global reports), Brazil, Australia (AIG survey), Turkey, Ireland, Czech Republic, and Sweden. Japan’s PMI index got revised downward and […] More
Tags: German and Swiss retail sales, manufacturing purchasing manager surveys, U.S. personal income and spending
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New Overnight Developments Abroad - Daily Update
November 30, 2022
Investors are awaiting Fed Chairman Powell’s luncheon speech today at the Brookings Institution, scheduled to start at 13:30 EST (18:30 GMT). The last business day of each month typically offers a very heavy menu of released data. November saw the biggest monthly drop in the dollar in over a decade, as long-term interest rates fell […] More
Tags: Central Bank of Namibia, Central Bank of Thailand, Euroland CPI, Fed Chairman Powell, U.S. GDP
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New Overnight Developments Abroad - Daily Update
November 29, 2022
The dollar traded lower this Tuesday and has so far lost 1.2% against the Aussie dollar, 1.0% relative to the kiwi, 0.8% versus the Mexican peso, 0.7% vis-a-vis the Chinese yuan, 0.5% against the yen and sterling and 0.3% versus the euro and loonie. The Swiss franc edged 0.1% higher, in contrast. A report out […] More
Tags: Canadian GDP, China and Covid, Euroland economic sentiment, Japanese retail sales and unemployment, National Bank of Krygyzstan, Swiss GDP, U.S. consumer confidence
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New Overnight Developments Abroad - Daily Update
November 28, 2022
A Fresh burst of risk aversion to start the week sent the dollar up 0.8% against the Australian dollar, 0.7% relative to the kiwi, 0.5% versus the loonie and Chinese yuan, 0.4% vis-a-vis sterling, 0.2% against the yen, and 0.1% versus the Swiss franc. The euro notably edged 0.1% higher against the dollar, aided by […] More
Tags: Bank of Ghana, Chinese corporate profits, Japanese retail sales
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New Overnight Developments Abroad - Daily Update
November 25, 2022
The dollar rose overnight by 0.6% against the yen, Swiss franc, and both Australian and New Zealand dollars. The dollar also climbed 0.5% versus the euro and 0.4% relative to the Canadian dollar and sterling. U.S. financial markets will close early today at 13:0o EST for equity trading and 14:00 EST (19:00 GMT) in the […] More
Tags: Central Bank of Pakistan, French and Italian consumer confidence, German GDP and consumer sentiment
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Central Bank Watch
November 24, 2022
The curious case of monetary policy at the Central Bank of Turkey moved further down the rabbit hole today with a 150-basis point additional drop in the policy rate to 9.0%. That’s ten percentage points below the 19% level that prevailed from March 2021 until September 2o21. This easing has been juxtaposed against accelerating inflation, […] More
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New Overnight Developments Abroad - Daily Update
November 24, 2022
With the U.S. observing its quintessentially most unique holiday, the dollar continued to back off from recent highs, dropping 0.3% on a weighted DXY basis overnight and extending its cumulative decline from peak to 7.8%. The dollar lost 0.9% against the yen today and 0.6% versus sterling but just 0.1% relative to the euro. Prices […] More
Tags: Bank of Korea, Central Bank of Sri Lanka, Central Bank of Turkey, German business climate index, Japan purchasing managers index, South Africa Reserve Bank, Swedish Riksbank
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Central Bank Watch
November 23, 2022
Although not a surprise to investors, the Reserve Bank of New Zealand official cash rate was increased by a larger 75-basis point increment to 4.25%. The prior five changes had been each an increase of a half percentage point. At the start of the tightening cycle in October 2021, the rate had been just 0.25%. […] More
Tags: Central Bank of Iceland, Reserve Bank of New Zealand
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New Overnight Developments Abroad - Daily Update
November 23, 2022
Japanese are observing their Labor Thanksgiving holiday today, and Americans are getting ready for Thanksgiving, which will see a closure tomorrow and an extended long weekend for many companies. The dollar fell overnight by 1.0% against sterling, which crossed above the $1.2000 threshold, up from a 2022 low of $1.0349. The dollar also lost 0.7% […] More
Tags: Bank of Iceland, preliminary purchasing manager surveys, Reserve Bank of New Zealand
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New Overnight Developments Abroad - Daily Update
November 22, 2022
The dollar fell overnight by 0.8% against the Swiss franc, 0.5% versus the yen and sterling and 0.3% relative to the euro, Aussie dollar and loonie. Ten-year sovereign debt yields dropped six basis points in the U.S., four bps in the U.K. but just a basis point in Germany. The DOW and S&P 500 are […] More
Tags: Canadian and Mexican retail sales, Central Bank of Nigeria, Euroland current account, German PPI
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