Archive for March 14th, 2014

Foreign Exchange Insights and Next Week

Next Week

March 14, 2014

An interesting week lies ahead, starting with Sunday’s referendum in Crimea that is highly likely to approve discarding Ukraine sovereignty.  What Russia then does may dictate the tone of the week. two special events on Wednesday will be the annual budget speech in Britain presented by Chancellor of the Exchequer Osborne and the FOMC meeting, […] More

Central Bank Watch

Bank of Russia Signals No Early Reduction of Elevated Interest Rate

March 14, 2014

In an emergency meeting on March 3rd, Bank Rossii officials raised the Russian one-week repo rate by 150 basis points to 7.0%.  Although today’s scheduled meeting did not tighten the policy stance additionally, it explained that a near-term cut is not going to happen. High inflation risks that brought about an increase in the key […] More

New Overnight Developments Abroad - Daily Update

Crimean Secession Vote Sunday Overshadows Marketplace

March 14, 2014

Japan’s Nikkei-225 plunged 488 points or 3.3% to a one month low.  Rampant risk aversion also lifted the yen by a further 0.5% to 101.27 per dollar. In other bourses, share prices fell 1.5% in Australia, 1.0% in Hong Kong, 0.8% in South Korea and China, 0.7% in Taiwan, and 0.6% in New Zealand.  In […] More