Deeper Analysis
Widest U.S. Minus Euroland Factory PMI Differential Since Before the Great Recession Seen in April
May 2, 2012
The U.S. manufacturing purchasing managers index increased by 1.4 points to a greater-than-expected 54.8 in April, which was also a 10-month peak. Euroland’s comparable index, in comparison, fell 1.8 points to 45.9, causing the spread between the two measures to widen by 3.2 points to 8.9 points. The spread increased 5.5 points in the two […] More
Central Bank Watch
National Bank of Romania
May 2, 2012
Monetary authorities opted for prudence in the face of domestic policy uncertainty, a more vulnerable leu exchange rate, and general European debt uncertainties. They elected to keep the benchmark interest rate steady at 5.25% rather than implement a fifth straight cut of 25 basis points even though CPI inflation eased further in the first quarter. […] More
Central Bank Watch
Bank of Thailand Monetary Policy on Hold
May 2, 2012
For a second straight meeting, Thai monetary officials decided to leave the 1-day bond repo rate at 3.0%. Today’s vote was unanimous. A statement from the authorities to explain their decision called the current stance “appropriate” even though economic recovery last quarter progressed faster-than-expected from devastating floods in late 2011. Inflation was called manageable. Such […] More
New Overnight Developments Abroad - Daily Update
PMI Surveys Reveal Diverging Trends, Sending Euro Lower
May 2, 2012
The dollar is 0.8% stronger against the euro and up 0.7% versus the Swiss franc. The dollar shows smaller advances of 0.3% relative to the kiwi, 0.2% versus the yen and sterling and 0.1% against the Canadian and Australian dollars. The greenback rebounded as well to CNY 6.30 against the Chinese yuan. Share prices advanced […] More
