Foreign Exchange Insights and Next Week
Next Week
May 22, 2015
Monday Holidays: U.S. and British markets will be shut May 25 for Memorial Day and a spring bank holiday, respectively, while several Continental European countries observe Whit Monday. Central Banks: Policy meetings are scheduled in Canada, Hungary and Israel. The Bank of Japan releases minutes of a prior meeting, and ECB President Draghi and BOJ […] More
Central Bank Watch
South African Reserve Bank
May 22, 2015
In a new statement from South African monetary authorities, officials express mounting doubts that the 5.75% repo rate is sufficiently restrictive to keep inflation in the medium term below the 6% target ceiling. Although the upward revision of the inflation forecast was relatively small, the persistence of medium term inflation at elevated levels and the […] More
Central Bank Watch
No Change in Bank of Japan Policy But Upgraded Assessment of Economy
May 22, 2015
BOJ policymakers took a step away from their easing bias by upgrading their view of Japan’s economic outlook. The forecast for some time has predicted continuing moderate recovery, but a statement released after four hours 53 minutes of deliberations over two days by the Policy Board expressed greater confidence of the baseline scenario, and Governor […] More
New Overnight Developments Abroad - Daily Update
Memorial Day Weekend Finds Spotlight on BOJ, China and Germany
May 22, 2015
U.S. markets will be closing early ahead of the Memorial Day Weekend. The dollar strengthened overnight by 0.8% against the euro and Aussie dollar, 0.7% relative to the Swiss franc and loonie, and 0.2% vis-a-vis the yen and sterling. The kiwi is unchanged. West Texas Intermediate oil fell back under the $60 threshold to $59.82 […] More
