Archive for November 18th, 2016

Foreign Exchange Insights and Next Week

Next Week

November 18, 2016

Holidays: Labor Thanksgiving in Japan on Wednesday followed by U.S. Thanksgiving on Thursday and Black Friday, which is the year’s biggest retail shopping day, the day after. Central Bank Activity: Monetary policy meetings in Turkey, South Africa, Malaysia, Hungary and Colombia. Release of FOMC minutes. Powell of the Fed, Kent of the Reserve Bank of […] More

Central Bank Watch

Bank of Mexico Overnight Interest Rate Raised a Fifth Time Since December 2015

November 18, 2016

Yesterday’s increase, like the previous three undertaken in February, June and September of this year, was by 50 basis points and lifts Mexico’s key central bank rate to 5.25%, highest since the first half of 2009. There was an initial 25-bp increase last December. The rate had ended 2008 at 8.25% but was at 4.5% […] More

New Overnight Developments Abroad - Daily Update

Super Dollar at the Expense of Bonds, Commodities and Now Even Stocks

November 18, 2016

The dollar hit overnight highs of JPY 110.94 and 1.0581 per euro.┬áThe dollar climbed 0.9% against the loonie, 0.4% relative to the Australian currency, and 0.2% versus sterling. The dollar advanced 0.4% against the Mexican peso in spite of another 50-basis point increase in the Bank of Mexico’s overnight interest rate to 5.25%. That rate […] More