Deeper Analysis
January in Figures
January 31, 2013
The euro strengthened against most currencies in January including the Swiss franc and sterling but especially versus the yen. Shifts in Japanese macroeconomic policies and the weakness of the yen gave a big lift to Japanese equities. Other stock markets also improved, but those in Germany and Canada rose by comparatively less. A notable exception […] More
Foreign Exchange Insights and Next Week
Euro Bearing the Indirect Brunt of Currency Warfare
January 31, 2013
When excessive inflation poses a larger risk than deficient economic growth, strengthening currencies are coveted to promote price stability and low interest rates. This is not one of those times, and besides short- and long-term interest rates are already too low, many would argue. History demonstrates, however, that unilateral efforts by policymakers to depreciate their […] More
Central Bank Watch
Bank Malaysia Negara Keeps Monetary Stance Left Unchanged
January 31, 2013
Malaysia’s overnight central bank interest rate has been at 3.0% since a 25-basis point increase in May 2011 culminated four such moves, the first of which was made in March 2010. The benchmark will remain at that level following today’s first policy meeting of 2013. The second meeting is scheduled for March 7 and, judging […] More
New Overnight Developments Abroad - Daily Update
Dollar Steady on Final Day of January
January 31, 2013
The dollar is unchanged against the yen, yuan, and Swiss franc, up 0.1% versus the euro, loonie, Australian dolar and sterling, and off 0.1% against the kiwi. Share prices in the Pacific Rim closed up 0.2% in Japan and Taiwan but down 0.6% in India, 0.5% in the Philippines, and 0.4% in Australia and Hong […] More
