Deeper Analysis
U.S.-Minus-Ezone Manufacturing PMI Spread Widens to a Nine-Month High
December 3, 2013
The U.S. purchasing managers index increased 0.9 points to 57.3 last month, whereas Euroland’s measure of manufacturing activity went up only 0.3 points to 51.6. The monthly average of the euro exceeded $1.3000 for a sixth straight month. Because of a big export component in demand for manufactured goods, the relative competitiveness of Euroland manufacturing […] More
Deeper Analysis
November in Figures
December 3, 2013
Most sovereign debt yields went up last month, whereas commodities declined. The dollar advanced against the yen and commodity-sensitive currencies, declined against sterling, and held generally steady on balance against the euro, Swiss franc and yuan. Although share prices strengthened generally, the British Ftse’s 1.2% drop proved an exception. Short-term interest rates remained anchored at […] More
Central Bank Watch
Reserve Bank of Australia
December 3, 2013
This month’s Board meeting ended with another decision to leave Australia’s official cash rate at 2.5%. Such fell to that level after eight cuts engineered between November 2011 and August 2013. All of those reductions but a 50-bp cut in May 2012 were moves of 25 basis points in size. The Board’s statement after today’s […] More
New Overnight Developments Abroad - Daily Update
Softer Share Prices and Dollar
December 3, 2013
The dollar slid overnight by 0.6% against the kiwi, 0.4% versus the yen, Swiss franc and sterling, 0.3% relative to the euro, and 0.2% against the Australian dollar. The greenback is unchanged against the yuan and 0.1% firmer relative to the loonie. Share prices have fallen by 1.1% in South Korea, 0.8% in Indonesia, 0.5% […] More
