Archive for April 28th, 2017

Foreign Exchange Insights and Next Week

Next Week

April 28, 2017

Holidays: Many markets will be closed Monday in observances celebrating workers, includin China, Germany, Italy, Spain, Norway, Hong Kong, Singapore, Mexico, Switzerland, South Africa, Brazil, South Korea, Greece and Portugal. Great Britain is shut also on Monday for the early May bank holiday. Japan’s market opens only for Monday and Tuesday. The so-called Golden Week […] More

Central Bank Watch

Another Russian Central Bank Interest Rate Cut

April 28, 2017

The Bank of Russia’s 50-basis point key interest rate cut to 9.25% decided today is larger than analysts were expected. Officials justified the decision by noting that inflation fell sharply last quarter to 4.3% (not far above the 4.0% target). Expected inflation is also lower, growth is positive, and real interest rates remain positive even […] More

New Overnight Developments Abroad - Daily Update

Flood of Data on Final Business Day of April

April 28, 2017

The dollar is mixed, with declines of 0.6% against the euro, 0.3% relative to the peso and Swiss franc and 0.2% vis-a-vis sterling but gains of 0.3% versus the yen, 0.2% against the kiwi and 0.1% relative to the loonie. The Aussie dollar and Chinese yuan are unchanged. Stocks are generally lower. The German bund […] More