New Overnight Developments Abroad - Daily Update
Bond Yields, Stocks, and Dollar Higher
May 19, 2015
The dollar strengthened 1.4% against the euro, 1.0% versus the Swiss franc, 0.8% relative to sterling, 0.6% vis-a-vis the Canadian and Australian dollars and 0.2% versus the kiwi. The yuan held steady. Ten-year Treasury and British gilt yields are four and three basis points firmer. Equities in the Pacific Rim rise by 3.4% in China, […] More
New Overnight Developments Abroad - Daily Update
Across-the-Board Dollar Gain in Absence of Meaningful Data News
May 18, 2015
Relative to last week’s closing levels, the dollar has risen 1.2% against the kiwi, 0.9% relative to the loonie, 0.8% vis-a-vis the euro, 0.7% versus the Swiss franc, 0.6% against the Australian dollar , 0.4% versus the yen and 0.3% relative to sterling. The DOW opened comparatively steady, but share prices are down by 1.9% in […] More
Foreign Exchange Insights and Next Week
Next Week
May 15, 2015
Central Bank Beat: Interest rate policy meetings are scheduled in Japan, Indonesia, Turkey, South Africa and Colombia. Minutes will be published for the last meetings at the Reserve Bank of Australia, Bank of England, European Central Bank and Federal Reserve. The heads of the ECB (Draghi), Bank of Canada (Poloz), and Bank of Japan (Kuroda) […] More
Central Bank Watch
Bank of Korea
May 15, 2015
The Bank of Korea’s seven-day repo rate was left at the record-low level of 1.75% as had been expected. Following a 25-basis point cut in March, this was the second straight decision not to change policy. Previous cuts of 25 basis points were engineered in November 2013, July 2014 and September 2014. A statement released […] More
New Overnight Developments Abroad - Daily Update
Dollar Gains as Week Draws to a Close
May 15, 2015
The dollar advanced broadly overnight, appreciating by 1.3% against the Swiss franc, 1.1% relative to the Australian dollar, 0.5% versus the euro and loonie, 0.8% vis-a-vis the kiwi, 0.4% against the yen, 0.2% versus sterling and o.1% against the yuan. The Japanese Nikkei climbed 0.8%, but share prices fell 1.8% in China, 0.7% in South […] More
Bank of Chile
Bank of Chile and Central Reserve Bank of Peru
May 14, 2015
Chile’s key interest rate was left at 3.0%, its level since a 25-basis point cut last October. That was the sixth reduction in 2014. Although inflation of 4.2% exceeds the 3% target, officials expect such to converge downward on the target and note that expected inflation remains well-anchored. Peru’s central bank rate is 25 basis […] More
Central Bank Watch
Central Bank of The Philippines
May 14, 2015
The last changes made to the overnight lending and overnight borrowing rates were hikes of 25 basis points in July and September of 2014. Those rates since then have been at 6.0% and 4.0%. This month’s policy meeting decided to keep those levels and also made not changes to reserve requirements. A released statement reaffirmed […] More
New Overnight Developments Abroad - Daily Update
Risk On
May 14, 2015
The dollar retreated further on Thursday. By mid-morning in New York it had declined 0.5% against the euro, 0.4% versus the Swiss franc, 0.3% relative to sterling and the kiwi, 0.2% vis-a-vis the Australian and Canadian dollars, and 0.1% against the yen. The Chinese yuan is steady. The DOW is up 0.6%, and stocks in […] More
Central Bank Watch
Bank of Iceland to Raise Interest Rates Before Long
May 13, 2015
Although the 7-day Icelandic repo rate of 4.5% was left unchanged, officials signaled that a hike is coming. “The Bank’s interest rate reduction late in 2014 was based on a sharp drop in inflation and the decline in inflation expectations, which led to a larger rise in real rates than was considered warranted at that […] More
New Overnight Developments Abroad - Daily Update
Wednesday Rundown
May 13, 2015
The dollar fell 1.4% against the Australian and New Zealand dollars on Wednesday. It also dropped by 1.2% versus the euro and Swiss franc, 0.5% relative to the yen, 0.4% against sterling and 0.3% versus 0.1% against the yuan. Share prices were unchanged in the United States, down 1.1% in Germany, and 0.7% versus the […] More
