Archive for June 21st, 2013

Foreign Exchange Insights and Next Week

Next Week

June 21, 2013

Next week will not be very active from a central bank watching standpoint.  Policy meetings are scheduled in Israel, Hungary and the Czech Republic. EU leaders hold a semi-annual summit in Brussels on Thursday and Friday.  The rotating presidency of the EU transfers on July to Lithuania from Ireland, which held the post for the […] More

Central Bank Watch

A Brave New Way of Conducting Monetary Policy

June 21, 2013

As noted in earlier updates, I was surprised by the clumsily handled signal that quantitative easing might soon be throttled back.  It was out of character with Bernanke’s previous stewardship that had managed to limit the duration and depth of the U.S. 2008-9 recession and achieved a sturdier subsequent recovery than experienced either in Europe […] More

New Overnight Developments Abroad - Daily Update

Pausing at the Solstice

June 21, 2013

After Thursday’s shock and awe, markets are taking stock of the damage.  Equities fell in the Pacific Rim but have bounced in Europe. Overnight movement in the U.S. dollar has been inconsequential: drops of 0.4% against the Australian dollar, which hit a 33-month low yesterday, and 0.2% versus the kiwi, upticks of 0.2% against the […] More