Foreign Exchange Insights and Next Week
Comparing Year-to-Date Currency Movement to a Year Ago
June 2, 2015
Short-term currency forecasting at the moment is rendered to a roll of the dice because of the uncertain outcome of aid-for-reform talks between Greece’s creditors and the Tsipras-led government. So let’s digress, and see how currency movements so far this year compared to movements one year earlier. Among the dollar’s key bilateral relationships, only the […] More
Central Bank Watch
Another Easing of Monetary Policy in India
June 2, 2015
Today’s 25-basis point reductions in the Reserve Bank of India’s repo and reverse repo rates to 7.25% and 6.25% constitute the third easing move of 2015, matching in size similar cuts in January and March. The latest easing did not surprise analysts in its timing. Although observing continuing potential upside risks to inflation that bear […] More
Central Bank Watch
A Less Dovish Statement from the Reserve Bank of Australia
June 2, 2015
After cutting the RBA’s official cash rate from 4.75% prior to November 2011 to a currently record low of 2.0% with the most recent reductions happening this year in February and at its prior meeting in May, the central bank Board released a statement today keeping the OCR at 2.0% and shifting forward guidance from […] More
New Overnight Developments Abroad - Daily Update
More Greek Jitters as Clock Runs Down
June 2, 2015
No agreement yet on Greece. Negotiators from the troika (IMF, EU and ECB) met last night in Berlin. The dollar fell 0.9%, touching a 2-week low of 1.1038 per euro. The dollar also lost 1.0% against the Australian dollar, whose central bank released a less dovish statement than anticipated, preferring data-driven forward guidance to an […] More
