Foreign Exchange Insights and Next Week
Defining Moments
November 14, 2013
The approaching 50th anniversary of former President Kennedy’s death offers an appropriate juncture to reflect on how well-prepared are foreign exchange markets to handle a truly transformative surprise. Global GDP growth appears to be improving but from an extremely weak and fragile state. Improvement is not widely felt by populations. These are not satisfying times. […] More
Central Bank Watch
Bank of Korean Base Rate Left at 2.5%
November 14, 2013
In a statement explaining today’s sixth straight monthly policy meeting decision not to change monetary policy, officials reaffirmed that South Korea’s output gap will remain negative for a considerable time going forward and The negative output gap is one of a number of factors that will keep inflation low for the time being. Exports have […] More
New Overnight Developments Abroad - Daily Update
A Mixed Bag of GDP Figures and Leaked Yellen Testimony
November 14, 2013
Japanese GDP expanded 1.9% at an annualized rate between 2Q and 3Q, down from 3.8% in the second quarter but a shade stronger than expected. The GDP price deflator was 0.3% lower than a year earlier. On-year GDP growth more than doubled to 2.7%. Among components of demand, consumption rose 0.4%, nonresidential investment climbed 0.7%, […] More
