Archive for November 6th, 2012

Central Bank Watch

Wait-and-See Approach at the Reserve Bank of Australia

November 6, 2012

Many analysts anticipated a sixth interest rate cut that didn’t come in November.  The RBA’s Board had previously cut the official cash rate by 25 basis points in November and December of 2011, 50 bps in May 2012, and 25 bps each in June and October.  The OCR rate is now at 3.25%. A statement […] More

Deeper Analysis

U.S. Minus Ezone PMI Services Spread Not as Wide in October as in September

November 6, 2012

The United States experienced its third best monthly service-sector advantage in 2012 versus Euroland, eclipsed only by the differentials in September and February.  The U.S. purchasing managers index dropped 0.9 points to a 2-month low of 54.2 in October, while Euroland’s comparable measured edged down a tenth of a point to 46.0, a 39-month trough.  […] More

New Overnight Developments Abroad - Daily Update

Judgement Day in America

November 6, 2012

Today’s U.S. presidential election outcome is generally considered too close to call.  Representing world opinion, the Economist and Financial Times endorsed Obama despite reservations about his first term. In a surprise to many analysts, the Reserve Bank of Australia declined to cut the 3.25% Official Cash Rate further.  The Aussie dollar has climbed 0.7% against […] More