Central Bank Watch
Australian Monetary Policy Stance Still on Hold
June 5, 2018
The Reserve Bank of Australia’s official cash rate was last changed in August 2016 when it was cut 25 basis points to 1.50%. Each ensuing policy review — done once every month except January — has stuck with that status quo, although the direction of the rate’s next change is more likely to be up […] More
Deeper Analysis
May PMI Results Point to Much Greater U.S. Advantage against Euro Area
June 5, 2018
The U.S. nonmanufacturing PMI, compiled by the Institute of Supply Management rose 1.8 to 58.6 in May, indicating a robust and considerably faster improvement in nonmanufacturing business conditions last month. The sales and prices indices increased by more than 2.0 points to pace the improvement. A U.S. services PMI, compiled by IHS Economics, was 2.2 […] More
New Overnight Developments Abroad - Daily Update
Sterling Strengthens… Emerging Market Currencies Slide
June 5, 2018
Sterling advanced 0.4% overnight against the dollar, buoyed by better-than-forecast British service sector and composite purchasing manager indices in May that rose to 3-month highs of 54.0 and 54.3, respectively. The dollar also edged down 0.1% against versus the yuan and yen but climbed 0.4% and 0.3% relative to the Australian and Canadian dollars and […] More
