Archive for November 30th, 2016

Central Bank Watch

A Second 25-Basis Point Brazilian Selic Rate Cut

November 30, 2016

The Central Bank of Brazil’s Selic Rate was reduced at a second straight meeting by 25 basis points to 13.75%. A similar reduction on October 19 had constituted a trend change. Previously between October 2014 and July 2015, Brazilian monetary policymakers had increased interest rates by 325 basis points from 11.0% to 14.25%. Officials on […] More

Foreign Exchange Insights and Next Week

Two Surprises With Different Currency Results

November 30, 2016

2016 will be remembered politically for the British referendum vote in late June to leave the European Union even if such means weaker British economic growth in the long term and the U.S. election in early November of Donald Trump, the significance of which remains quite uncertain. Sterling has fallen, but the dollar has climbed […] More

Deeper Analysis

November in Figures

November 30, 2016

World financial markets spent most of November grappling with the implications of Donald Trump’s unexpected victory and the Republican Party’s coming control of the executive, legislative and judicial branches of the federal government, as well as most state governorships and legislatures. A possible December hike of the federal funds target became a virtual certainty after […] More

New Overnight Developments Abroad - Daily Update

OPEC Production Cut Accord Sets Tone for Wednesday’s Financial Markets

November 30, 2016

OPEC oil ministers in Vienna announced a 1.2 million barrel per day production cut to 32.5 mb/d. Saudi Arabia, Iraq and Iran are on board, and there’s reason to believe Russia will take actions to make the agreement work. It’s the first cut since 2008. Brent oil jumped above $50, and West Texas Intermediate crude […] More