Archive for July 26th, 2016

Foreign Exchange Insights and Next Week

Mid-Summer Musing

July 26, 2016

A week from Thursday will mark the midpoint between the summer solstice and autumnal equinox.  In theory, August is a sleepy month when investors and traders take their holidays.  Historically, however, August has been hardly insulated from market volatility or the event risks.  For example, both world wars began in late summer, and Iraq’s 1990 […] More

Central Bank Watch

No Change Made to Hungary’s Central Bank Base Rate

July 26, 2016

Officials at Magyar Nemzeti Bank have used the opportunity of persistent, extensive unused capacity and a lack of pricing pressure to loosen monetary progressively.  Their main interest rate was reduced 490 basis points to 2.1% during the two years ending July 2014.  Five additional 15-basis point cuts were done last year at successive meetings from March through […] More

New Overnight Developments Abroad - Daily Update

Yen, Aussie Dollar and Kiwi Strengthen

July 26, 2016

The dollar fell overnight by 1.0% against the yen, 0.8% relative to the kiwi and 0.7% vis-a-vis the Aussie dollar, but the U.S. currency is little changed against other major currencies. The Japanese Nikkei lost 1.4% on signs from Finance Minister Aso that less fiscal stimulus is planned than investors were assuming.  The Bank of […] More