New Overnight Developments Abroad - Daily Update
A Drop in Share Prices
November 5, 2013
Equities fell 1.3% in India, 0.7% in Hong Kong, 0.6% in South Korea, 0.4% in the Philippines, and 0.2% in Indonesia and Malaysia. In Europe, Spain’s IBEX has slumped 1.3%, and stocks are 0.6-0.7% lower in Britain, Germany, France and Italy. Not all markets dropped. Japan’s Nikkei closed 0.2% firmer. Stocks rose 0.8% in Australia, […] More
Deeper Analysis
U.S. Treasury Report on International Economic and Foreign Exchange Policies
November 4, 2013
The semi-annual Treasury Department treatise on currency market conditions once again declared no country to be a “currency manipulation,” a designation that would enhance government powers to impose protectionist counter-actions. As usual, the lack of any such formal designation did not stop Treasury officials from recommending policy adjustments and leveling criticism at the recent practices […] More
Deeper Analysis
Steady U.S. Advantage vs Ezone in Manufacturing
November 4, 2013
The U.S. commanded a 5.1-point manufacturing purchasing managers index premium over the euro area in October for the third time in the past four months. Each index was above 50 in all four months, which signifies trends of expansion, but the pace is significantly fast in the United States. The composition of the U.S. PMI […] More
New Overnight Developments Abroad - Daily Update
More Purchasing Manager Surveys Released
November 4, 2013
Japanese markets were shut this Monday as the country observed the Culture Day holiday. Equities in the Pacific Rim mostly softened slightly, with drops of 0.7% in South Korea, 0.6% in the Philippines, 0.4% in Australia and Taiwan, 0.3% in Hong Kong, 0.2% in Indonesia, China and Malaysia and 0.1% in New Zealand. But share […] More
Foreign Exchange Insights and Next Week
Next Week
November 1, 2013
Interest rate policy meetings are scheduled next week at central banks in the euro area, Great Britain, Australia, Iceland, Poland, the Czech Republic, Romania, Serbia and Malaysia. Bank of Japan minutes from the early October meeting and the Reserve Bank of Australia’s quarterly Monetary Policy Statement will be published. The top person at the Federal […] More
New Overnight Developments Abroad - Daily Update
Mounting Possibility of a Near-Term ECB Interest Rate Cut
November 1, 2013
The euro fell 0.5% on net overnight and got below its 20-day average to as low as $1.3507. There’s talk in the wake of CPI data released yesterday that the ECB may soon cut interest rates. Total and core consumer prices in the year to October advanced just 0.7% and 0.8%, respectively. The Ezone jobless […] More
