Archive for June 1st, 2016

Central Bank Watch

Bank of Iceland

June 1, 2016

Icelandic monetary policy has been in a tightening cycle since an initial increase in the seven-day collateralized lending rate of 50 basis points in June 2015.  That move was followed by two 25-basis point hikes in August and November.  But officials managed to put off a fourth increase in the first half of 2016, which […] More

Deeper Analysis

Similar Manufacturing Conditions in U.S. and Euroland Last Month

June 1, 2016

Just 0.2 points separate the ISM’s U.S. manufacturing purchasing manager index of 51.3 and Markit Economics’ eurozone estimate of 51.5.  The U.S. index climbed a half point further above the 50 level, while Euroland’s index was 0.2 points lower than its April reading.  The average EUR/USD relationship last month was little different from its mean […] More

New Overnight Developments Abroad - Daily Update

PMI Report Card and Other News

June 1, 2016

Today is the first day of June, a month that sees the ECB Governing Council meet tomorrow and both the FOMC and BOJ Board hold policy meetings at mid-month.  Markets only discount a one in four chance of Fed tightening this month but more than even odds for an interest rate increase by the July […] More