Archive for October 1st, 2013

Deeper Analysis

A Wider U.S.-Minus-Euroland Factory PMI Differential

October 1, 2013

In September, the U.S. purchasing managers index for manufacturing rose by 0.5 point, while the comparable Ezone index dipped 0.3 points.  As a result, the spread between the two indices widened to 5.1 points, matching July’s biggest U.S. advantage since February.  The advance of the U.S. index was led by stronger growth in jobs and […] More

Central Bank Watch

Reserve Bank of Australia: Official Cash Rate Stays at 2.5%

October 1, 2013

Between November 2011 and August 2013, eight cuts of the OCR were implemented, totaling 225 basis points from a prior high of 4.75%.  In a statement after this months meeting, the current stance was called “appropriate,” asserting that “the full effects of these [prior] decisions are still coming through, and will be for a while […] More

New Overnight Developments Abroad - Daily Update

PMI and Japanese Tankan Results Plus a U.S. Government Shutdown

October 1, 2013

The dollar fell to multi-month lows of CHF 0.8992, 1.3589 per euro, and 1.6262 per pound after the U.S. Congress failed to avert a partial shutdown of the federal government that will lay off close to a million workers.  Obama warned of economic consequences.  The dollar is now off its lows and shows net overnight […] More