Archive for July 2nd, 2015

Deeper Analysis

Comment on U.S. Labor Market Report, Inflation, and Fed Thinking

July 2, 2015

Growth in nonfarm payroll employment slowed in the first half of 2015.  The monthly average increase had been similar in the first and second halves of 2013 at 195K and 204K, respectively, and then accelerated to 239K in the first half of 2014 and 281K in the second half of last year.  Despite sub-300K readings […] More

Central Bank Watch

Swedish Monetary Policy Eased for the Third Time this Year and Fourth Time in Eight Months

July 2, 2015

The Riksbank’s six-person Executive Board surprised analysts with an interest rate cut, an augmentation of quantitative stimulus, a vow to intervene if needed, and a forecast that its easing cycle may not be over.  The new repo rate level of -0.35% is unlikely to rise before late 2016 and will probably be no higher than […] More

New Overnight Developments Abroad - Daily Update

Australian and New Zealand Dollars Fall as U.S. Jobs Report is Awaited

July 2, 2015

The U.S. dollar climbed 0.9% against the kiwi, 0.6% versus the Aussie dollar, 0.2% relative to the yen, loonie and Swiss franc, and 0.1% against sterling.  The New Zealand dollar touched a 5-year low of USD 0.6670, and the Canadian dollar hit a new low for the move of C$ 1.2635.  In contrast, the euro […] More