Deeper Analysis
U.S. and Eurozone Service Sector PMIs in March
April 5, 2016
The U.S. non-manufacturing purchasing managers index climbed 1.1 points in March, while Euroland’s counterpart services PMI edged 0.2 points lower. In conjunction with an equally U.S.-advantageous shift in manufacturing PMI measures, the arithmetic sum of the two sets of PMI differentials (U.S. minus Eurozone) swung to +1.6 — a 7-month peak — from -1.6 in February […] More
Central Bank Watch
Reserve Bank of India’s First Bi-Monthly Monetary Policy Review of Fiscal 2016/17
April 5, 2016
The main policy interest rate, the repo rate, was cut 25 basis points to 6.5%, lowest since 2011, while the reverse repo rate was hiked by 25 bps to 6.0%. The narrowing of the corridor between the rates was one of several actions intended to strengthen the pass-through of changes in central bank policy rates […] More
Central Bank Watch
Reserve Bank of Australia
April 5, 2016
Australia’s official cash rate was left at the record low of 2.0% that has prevailed since a 25-basis point cut in May 2015, which followed a similar reduction enacted three months earlier. Previously, the OCR was reduced in eight steps from 4.75% to 2.5% between November 2011 and August 2013. A statement released after this […] More
New Overnight Developments Abroad - Daily Update
Gold and Yen Stronger but Stocks, Bond Yields, and Emerging Market Currencies Decline
April 5, 2016
The yen is 0.6% stronger on balance, powered by a fresh wave of safe-haven seeking capital flows. Many service sector PMI reports were disappointing. Japan’s index and its composite PMI fell to one-year lows, for example. The yen touched 110.26 per dollar, its most appreciated level since October 2014. Comex gold rose 1.3% to $1,231.59. […] More
