Archive for February 5th, 2014

Central Bank Watch

National Bank of Poland Keeps 2.5% Seven-Day Repo Rate

February 5, 2014

Poland’s record low central bank interest rate was kept in spite of recent weakness in the Zloty.  It has been 2.5% since a 25-basis point cut last July, which culminated an eight-move 225 basis point easing that began in November 2012.  A statement released by officials at Narodowy Bank acknowledged the challenges faced by emerging […] More

Deeper Analysis

Service-Sector U.S.-Minus-Ezone PMI Spread Remained Small in January

February 5, 2014

For a sixth straight month, service sector activity expanded in both the United States and euro area, and the pace of expansion accelerated in each case last month.  That’s the message from their respective purchasing manager indices released today.  The U.S. index increased a whole point to 54.0, a two-month high, and embodied advances of […] More

New Overnight Developments Abroad - Daily Update

Mixed Picture

February 5, 2014

Japan’s Nikkei rebounded 1.2% from a 4-month low on some better-than-expected Japanese earnings from Panasonic, Toyota and Sony.  But in a sign of continuing risk aversion, the dollar fell 0.5% against the yen. The greenback is unchanged against the euro, Swissie, Aussie dollar and yuan.  It shows gains of 0.3% versus sterling and 0.2% relative to […] More