Foreign Exchange Insights and Next Week
The Movement of Euro/Yen
December 5, 2013
Yen weakness and euro resilience have coexisted for the past sixteen months. From a low of 94.075 yen per euro in late July 2012 to a high this week of 140.025, the euro soared 49% against the Japanese currency, rounding slightly up to the nearest whole number. With hindsight, the trigger for the turning point […] More
Central Bank Watch
ECB Governing Council Made No Further Policy Changes
December 5, 2013
New staff maroeconomic forecasts were released by the European Central Bank today following the final monetary policy meeting of 2013. The mid-point of projected high-low ranges for GDP and CPI inflation are shown in the top row of the table below and compared to earlier forecasts issued at quarterly intervals. Notably, sub-target inflation is foreseen […] More
Central Bank Watch
Bank of England: No Policy Change from Monetary Policy Committee
December 5, 2013
The statement released by monetary officials in Britain followed the standard non-explanative format whenever policy is left unchanged. Investors and the public are instructed to stay tuned for details of the latest thinking that will be covered in published minutes due December 18. The statement also notes that today’s decision conformed to guidance adopted last […] More
Central Bank Watch
Norges Bank
December 5, 2013
According to the central bank Deputy Governor Jan F. Qvigstad, Consumer price inflation has been somewhat lower than expected in the past two months and it appears that growth in the Norwegian economy will be somewhat lower in the period ahead than projected earlier. On the other hand, the krone has depreciated considerably. On the […] More
New Overnight Developments Abroad - Daily Update
Dollar in a Holding Pattern
December 5, 2013
The dollar is unchanged from Wednesday closing levels against the euro, Swissie, kiwi and yuan. The U.S. currency has edged up 0.2% against sterling but is 0.2% lower versus the yen and 0.1% softer relative to the loonie. It has ticked 0.1% higher against the Aussie dollar, whose trade deficit in October widened more than […] More
