Foreign Exchange Insights and Next Week
Next Week
June 7, 2013
During the coming week, central bank meetings are scheduled in Japan, Indonesia, South Korea, Iceland, the Philippines, New Zealand, and Chile. Minutes from the Bank of Japan’s May 21 meeting arrive, and the BOJ monthly report, the ECB monthly Bulletin, and the Bank of England quarterly Bulletin get published. Germany’s Constitutional Court will be ruling […] More
Central Bank Watch
Bank of Mexico: No Further Rate Cut Now
June 7, 2013
After holding the Mexican central bank interest rate at 4.0%, monetary officials released a statement predicting a convergence of headline and core inflation on the 3.0% target in the medium term. Officials blamed the higher-than-3% current headline CPI on temporary factors and reiterated that growth had slowed significantly this year. Exports and domestic demand have […] More
Central Bank Watch
Sri Lankan Repo Rate Kept at 7.0% after Being Cut Last Month
June 7, 2013
The repo and reverse repo rates were previously sliced by 25 basis points last December and by 50 bps on May 10. They currently stand at 7.0% and 9.0%, respectively. May’s reduction was set against the backdrop of slower and slower-than-anticipated first-quarter growth, a stronger rupee, satisfactory external balances, and decelerations of core inflation and […] More
New Overnight Developments Abroad - Daily Update
Yen Soars as Kiwi and Aussie Dollars Sink
June 7, 2013
The grand-daddy of all U.S. data releases, the Labor Department jobs report, is due today at 12:30 GMT. The U.S. dollar plunged 1.8% against the yen while advancing by 1.2% and 1.0% against the Australian and New Zealand dollars. The yen hit overnight highs of 95.28 per dollar and 126.27 per euro. Japanese Finance Minister […] More
