Foreign Exchange Insights and Next Week
U.S. Currency Generally Buoyant in Spite of Loss against Euro
September 26, 2013
The dollar’s performance in 2013 has been a mixed one. Quarter-end is nearly upon us, and the currency is 3.5% below its mid-2013 level against the eurol. Compared to end-2012, the European common currency has risen slightly more than 2.0%, and the euro’s advance since hitting a low in 2012 of $1.2041 equals roughly 12%. […] More
Central Bank Watch
Czech National Bank
September 26, 2013
The Czech two-week repo rate was kept at 0.05% where such has been since a 20-basis point cut in November 2012. This is a virtual zero interest rate policy, yet inflation (1.3% from a year ago) and real GDP growth (-1.3% year-over-year) remain low. The monetary policy bias remains one of ease, but this can […] More
Central Bank Watch
Taiwan Monetary Policy Left Unchanged after Quarterly Review
September 26, 2013
The Central Bank of the Republic of China retained a 1.875% key interest rate. It’s been at that level since the last of five 12.5-basis point hikes squeezed between June 2010 and June 2011. Officials reaffirmed “the current policy stance is conducive to price and financial stability as well as economic growth,” noting in particular that […] More
New Overnight Developments Abroad - Daily Update
Concerns about Western Growth and Chinese Money Markets
September 26, 2013
The dollar fell 0.6% against the kiwi overnight but is otherwise narrowly mixed with upticks of 0.2% against the euro and yen and 0.1% versus the Swiss franc and sterling but downticks against other commodity-sensitive currencies like the loonie (0.1%) and Aussie dollar (0.2%). China’s yuan held unchanged. China’s central bank made another large liquidity […] More
