Archive for September 27th, 2013

Foreign Exchange Insights and Next Week

Next Week

September 27, 2013

The coming week bridges the end of the third quarter to the start of the final quarter of 2013.  The September purchasing manager surveys for many countries will be published, first covering manufacturing and later service-producing activities.  Germany and Britain also have construction PMI reports.  Japan has a very busy data calendar including the Bank […] More

Central Bank Watch

Central Bank of Colombia

September 27, 2013

Another monthly Board of Directors meeting ended today without a change in the 3.25% benchmark interest rate.  The last change was a reduction of 50 basis points on March 22 that punctuated a seven-move drop from 5.25% in which all six prior moves had been declines of 25 basis points.  The streak began in July […] More

New Overnight Developments Abroad - Daily Update

In Search of Market Clarity

September 27, 2013

No single market theme stands out.  Quarter-end is fast approaching.  Another U.S. fiscal showdown looms.  Overnight data have been mixed.  Esther George, K.C. Federal Reserve President, criticized the FOMC’s backtrack on tapering; she favored a cut to $70 billion in monthly asset purchases.  Japanese Finance Minister Aso did some backtracking of his own, indicating the […] More