Central Bank Watch
Mexican Benchmark Interest Rate Not Cut Further
August 21, 2009
As analysts expected, the Banco de Mexico left its key interest rate at 4.5% after its August meeting today. Cuts in each of the first seven months of the year had cumulated to 375 basis points from an 8.25% level at the start of the year. There had been cuts of 75 bps in March, […] More
New Overnight Developments Abroad - Daily Update
Next Week
August 21, 2009
The final week of August is not the last week of the summer season because the Labor Day Holiday in 2009 is on September 7, its latest possible date. Typical of the cusp between months, next week has a busy calendar for released data and planned central bank meetings. The latter will be held in […] More
Foreign Exchange Insights and Next Week
Weekly Foreign Exchange Insights: August 21st
August 21, 2009
These are the hot, humid days of August, a time of erratic currency market activity but also a time for big picture thinking. The dollar lost ground this week. Recovery hopes continue to wax and wane with each new statistic, but optimism appears to prevail that negative global growth is ending, financial market conditions will […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Better-Than-Expected Euro Area PMI Readings
August 21, 2009
Three main themes today: Sharply improved French, German, and Euroland PMI scores in August according to preliminary reports. Reports that Beijing officials plan tighter capital reserve requirements for banks to curb lending spree and rise of stock prices. Investors awaiting Bernanke speech KC Fed Symposium in Jackson Hole, Wy. Also the release of U.S. existing […] More
