Archive for June 4th, 2014

Deeper Analysis

U.S. Claims Biggest PMI Advantage versus the Euro Area in 5-7 Months

June 4, 2014

In the May purchasing manager surveys, the United States commanded similar advantages versus Euroland in service-sector activity, +3.1 points, and manufacturing, +3.2 points.  The service sector spread was the widest since October, while the advantage in manufacturing was at a 5-month high.  The sum of the two spreads, +6.3 points constituted a half-year high.  Among […] More

Central Bank Watch

Bank of Canada Maintains Policy Stance

June 4, 2014

Canada’s overnight interest rate target will remain at 1.0%, the level since a 25-basis point hike in September 2010.  A statement from officials observed weaker growth in the first quarter than was anticipated but higher total CPI inflation, too, which was caused by elevated energy costs and a weaker C-dollar.  In the statement, officials attach […] More

New Overnight Developments Abroad - Daily Update

Steady Dollar, Lower Share Prices

June 4, 2014

The dollar firmed 0.2% overnight against the Canadian and New Zealand dollars and 0.1% relative to the yen, euro and sterling.  The U.S. currency is unchanged against the Swiss franc and Chinese yuan and down 0.1% relative to the Aussie dollar. Share prices fell 1.0% in China, 0.6% in Australia and Hong Kong, 0.5% in […] More