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
