Central Bank Watch
Bank Indonesia Keeps 6.5% Benchmark Rate
November 4, 2009
The rate decision matched the decisions made in the prior two months and had been expected. But comments from BI officials appeared aimed to dissuade speculation about a rate hike next year. CPI inflation had ticked up a tenth in September, and officials had previously been warning that inflation is likely to move up to […] More
Central Bank Watch
Bank of England Preview
November 4, 2009
For the ECB, the key meetings fall in March, June, September and December because new staff forecasts are announced at those times. For identical reasons, the key Bank of England meetings tend to be those in February, May, August and November. Thursday’s announcement from the Monetary Policy Committee needs to address the issue of whether […] More
Central Bank Watch
ECB Preview
November 4, 2009
At 12:45 GMT on Thursday, the ECB is expected to announce no change in its 1.0% refinancing rate, which has been at that level since May. Investors would also be surprised to see the disappearance of recent buzz words depicting a continuing ultra accommodative stance. Policy is appropriate. Although the economy is stabilizing, the recovery […] More
Currency Markets in the News
PMI Spread in Services Favors Euroland Over United States
November 4, 2009
PMIs U.S. Ezone U.S. Ezone Sum of Services Services Spread Mf’g Mf’g Spread Spreads Feb 2008 49.7 52.3 -2.6 48.8 52.3 -3.5 -6.1 March 49.9 51.6 -1.7 49.0 52.0 -3.0 -4.7 April 51.9 52.0 -0.1 48.6 50.7 -2.1 -2.2 May 51.2 50.6 +0.6 49.3 50.6 -1.3 -0.7 June 48.8 49.1 -0.3 49.5 […] More
Central Bank Watch
Vital Market Prices at Time of Prior FOMC Announcements
November 4, 2009
EUR/$ $/JPY 10Y, % DJIA Oil, $ 06/30/04 1.2173 109.44 4.63 10396 37.95 06/30/05 1.2090 110.89 3.96 10370 57.00 06/29/06 1.2527 116.07 5.20 11077 73.41 06/28/07 1.3452 123.17 5.10 13456 69.82 08/07/07 1.3749 118.55 4.73 13510 72.27 09/18/07 1.3888 115.75 4.51 13475 81.42 10/31/07 1.4458 115.28 4.42 13873 93.59 12/11/07 1.4682 111.49 4.11 13645 […] More
New Overnight Developments Abroad - Daily Update
New Overnight Developments Abroad: Awaiting Central Bank Roll Call and ADP Report
November 4, 2009
Expectations of a dovish FOMC statement have buoyed stocks and commodities but depressed the dollar and yen. Bank of England and ECB decisions are tomorrow. There’s interest too in today’s ADP report on private U.S. employment in October. Analysts expect much better jobs data than in September. The dollar has fallen 1.2% against the Australian […] More
