Deeper Analysis
U.S. Minus Ezone Factory PMI Spread Widened Slightly in June
July 1, 2014
The U.S. PMI dipped by 0.1 to a reading of 55.3, but the euro area manufacturing index declined by 0.4 points to 51.8. The differential between those measures of activity consequently widened to 3.5 points, largest since December, from 3.2 in May. The euro averaged $1.360 per month in June, marking the seventh month in […] More
Central Bank Watch
Australian Official Cash Rate Held at 2.5% Record Low as Expected
July 1, 2014
The statement from Governor Stevens released today asserts that Markets appear to be attaching a very low probability to any rise in global interest rates over the period ahead. Australian growth will be “a little below trend over the year ahead.” Domestic costs remain “contained.” The fundamentally excessive value of the Aussie dollar continues to […] More
New Overnight Developments Abroad - Daily Update
June PMIs and Quarterly Japanese Tankan Survey Results Reported
July 1, 2014
The start of the third calendar quarter finds the dollar unchanged overnight against the euro, Swissie, loonie and kiwi, up 0.2% relative to the yen but down 0.2% versus the Aussie dollar and 0.1% vis-a-vis sterling. There’s been a big protest march in Hong Kong on the seventeenth anniversary of its return to Chinese rule. […] More
