Central Bank Watch
No Change in Mexican Central Bank Rate
August 26, 2011
As expected, policymakers at the Bank of Mexico kept their benchmark interest rate at 4.5%. A released statement noted that The external environment deteriorated significantly in recent weeks; Productive activity in Mexico continues to trend positively, but its growth rate has lost some dynamism. Some components of domestic expenditure have slowed moderately, while exports remain […] More
Foreign Exchange Insights and Next Week
Next Week
August 26, 2011
Brazilian monetary policymakers will be meeting on August 30-31, and the release of FOMC minutes is scheduled for Tuesday. Also that day, Japanese lawmakers will vote on the successor to Prime Minister Kan. There is a British bank holiday on Monday, and U.S. Treasury market trading will close early on Friday to start the Labor […] More
Foreign Exchange Insights and Next Week
Next Stop: Irene
August 26, 2011
Chairman Bernanke’s predictable speech proved not to be a major market event. Equities, gold, and bond yields rose afterward in a sign of some relief about future risk. Consistent with those moves, the dollar fell against the euro, which at 16:50 GMT was hovering just below $1.45 versus a 2011 high so far of $1.4939. […] More
Central Bank Watch
No Surprises in Bernanke’s Jackson Hole Speech
August 26, 2011
In predictable and balanced remarks, the Fed Chairman generally avoided tipping his hand regarding what the FOMC might do in the near term. As expected by yesterday, he did not announce any new measure, nor did he go into detail about specific other steps that could be taken. He’s done that on earlier occasions including […] More
New Overnight Developments Abroad - Daily Update
Spotlight on Bernanke Speech at 14:00 GMT (08:00 Local Time)
August 26, 2011
Investors await Fed Chairman Ben Bernanke’s breakfast speech at the Jackson Hole Annual Symposium. He’s not expected to announce a major policy initiative. Revised U.S. GDP 2Q data are due at 12:30 GMT, with the consensus being that growth will get revised down from the preliminary estimate of 1.3% to 1.0% or less. The U. […] More
