Foreign Exchange Insights and Next Week
Welcome to Summer
May 23, 2013
Wouldn’t it be nice for market participants and analysts if the matters which most influence currency valuation like future monetary policy changes could be laid out in black and white terms without qualifications or two-way causation and feed-back loops? In such a world, policymaking could be planned a year or more in advance. One would […] More
Central Bank Watch
South African Reserve Bank’s Repo Rate Left Unchanged at 5.0%
May 23, 2013
South Africa has a fragile economy, and growth prospects are sufficiently lackluster to prompt monetary officials to revise its forecasts downward to 2.4% this year and an average pace of around 3% in 2013-14. That said, room does not presently exist to cut the 5.0% repo rate because of A depreciating rand and the risk […] More
New Overnight Developments Abroad - Daily Update
Disastrous Day for Share Prices in Asia and Europe
May 23, 2013
Japan’s Nikkei-225 index plunged 7.3%, the most for any single session since March 15, 2011 and the second greatest daily drop since October 24, 2008. Elsewhere in the Pacific Rim, stocks fell by 2.5% in Hong Kong, 2.0% in Australia, 1.9% in Taiwan and India, 1.8% in Singapore, 1.7% in Indonesia, 1.3% in China, 1.2% […] More
