Deeper Analysis
Service-Sector PMIs Show Wider U.S. Advantage
May 6, 2014
The U.S. non-manufacturing purchasing managers index jumped by 2.1 points to an 8-month high of 55.2 in April. With Euroland’s equivalent measure rising just a point to 53.1, the differential between the two indices increased to 2.1 points from 1.0 point in March and negative 1.0 point in February. Considerably faster growth in U.S. sales […] More
Central Bank Watch
National Bank of Romania Keeps Status Quo
May 6, 2014
Romania’s monetary policy rate has been at 3.5% since February. From a peak of 10.25% at end-2008 it fell to 3.5% in increments of 225 basis points during 2009, 175 bps in 2010, 25 bps in 2011, 75 bps in 2012 and 175 bps since mid-2013 including cuts of 25 bps in the first two […] More
Central Bank Watch
Reserve Bank of Australia Retains 2.5% Official Cash Rate as Expected
May 6, 2014
The statement released after the RBA Board’s May monthly policy meeting reads very similarly to April’s statement. Officials call the current stance appropriate for balancing the goals of “sustainable growth in demand and inflation outcomes consistent with the target” of 2-3% and predict that policy will hold steady for a period of time. The stance […] More
New Overnight Developments Abroad - Daily Update
Dollar Broadly Lower
May 6, 2014
The dollar touched overnight lows of 1.3946 per euro, 0.9354 per Aussie dollar, 1.6980 per pound, CHF 0.8728, and JPY 101.7. Net losses are 0.8% against the kiwi, 0.7% relative to the Australian dollar, 0.6% vis-a-vis sterling, 0.5% against the euro and Swiss franc, 0.4% versus the yen, 0.3% against the yuan and 0.2% relative […] More
