Archive for November 30th, 2012

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