Deeper Analysis
U.S. Minus Euroland Manufacturing PMI Spread Narrowed Last Month
March 1, 2011
Euroland’s purchasing managers index advanced 1.7 points to 59.0 last month. The rise was nearly three times larger than the 0.6 point improvement of the U.S. manufacturing PMI index, and trimmed the differential between the two data series to a U.S. advantage of 2.4 points from 3.5 points in January. The U.K. manufacturing PMI reading […] More
Central Bank Watch
Bank of Canada Kept Overnight Rate Target at 1.0% as Expected
March 1, 2011
There had already been three increases of 25 basis points each but none more recently than last September 8th. A statement released by Canadian monetary authorities observed that economic recovery had lately been “slightly faster than expected” and “early evidence of a recovery in net exports” had even surfaced. The point is also made that […] More
Central Bank Watch
Pause in Australian Monetary Policy Continued
March 1, 2011
The Australian Official Cash Rate was left at 4.75% as expected. Australia escaped the Great Recession, thanks to heads-up monetary and fiscal stimulus. The cash rate was slashed to 3.0% from a prior peak of 7.25%, but the Reserve Bank of Australia was among the first central banks to start reversing course, undertaking an initial […] More
New Overnight Developments Abroad - Daily Update
Heavy Data Barrage But Not Much Currency Movement
March 1, 2011
The dollar shows gains of 0.3% against the yen and 0.2% relative to the kiwi. The U.S. currency is unchanged against the yuan and Swiss franc and down 0.1% against sterling, the Canadian dollar, the euro and the Australian dollar. Today see a slew of data releases and the spotlight on several central banks. The […] More
