Central Bank Watch
Bank of Mexico: Key Overnight Interest Rate Left at 4.5%
November 30, 2012
The streak of unchanged monetary policy following a cut in July 2009 has been extended, and the more sanguine tone of today’s statement from the Governing Board suggests that many more months may pass before a policy change is next enacted. Growth prospects have softened: “Economic activity in Mexico has maintained an upward trend, albeit […] More
Deeper Analysis
November in Figures
November 30, 2012
Ten-year yields fell in November, whereas short-term rates were steady. The dollar hardly changed on balance except in the case of the yen, which appreciated 3.3%. U.S. equities under-performed other stock markets. Japan’s Nikkei advanced 5.8%. West Texas Intermediate crude oil prices climbed 3.1%, while gold closed the month 0.4% lower on balance. 10-Yr Yield […] More
Foreign Exchange Insights and Next Week
Currencies Remain Mostly Calm Ahead of the U.S. Fiscal Waterfall
November 30, 2012
Net movement in the currencies of major advanced economies have been comparatively small during the second half of 2012. The yen has exhibited the greatest weakness, a slide of 3.2% against the dollar, but virtually all that loss occurred within the past month. The U.S. currency otherwise has depreciated 2.5% or less against the euro, […] More
New Overnight Developments Abroad - Daily Update
Monthend Delivers Plenty of New Information
November 30, 2012
The yen fell to seven-month lows of 107.7 per euro and 82.76 per dollar. The tone of fiscal cliff talks between the White House and Congressional leaders has turned more embittered and gloomy. The German parliament approved the latest aid plan for Greece. Japanese industrial production unexpectedly advanced 1.8% in October, but other released Japanese […] More