Central Bank Watch
Bank of Israel Leaves Interest Rate Unchanged
January 7, 2019
The Bank of Israel Monetary Committee reviewed its monetary policy stance for the first time since a 15-basis point interest rate hike announced in late November to 0.25%. That increase had been the first change 3-3/4 years and reversed a cut of same size in February 2015, which had culminated a 310-basis point easing cycle […] More
Deeper Analysis
U.S. Non-Manufacturing PMI and Euroland’s Service-Sector PMI Fell in December But Not Below a 50 Reading
January 7, 2019
The ISM’s non-manufacturing U.S. purchasing managers index declined 3.1 points in December to a 5-month low of 57.6. This slowdown in positive growth was led by lessening production/sales, whose subindex retraced 5.3 points. The report also revealed slower employment conditions and less inflation intensity. The IHS service sector PMI fell by 2.2 points last month […] More
New Overnight Developments Abroad - Daily Update
Dollar Down as Trump Mulls Declaring Emergency to Fund Wall
January 7, 2019
The dollar began the first full week of 2018 edging moderately lower against most other major currencies. The political stalemate over funding a southern border wall is adding to investor uneasiness as the president claims he doesn’t need congregational approval to fund building a wall and could alternatively just declare an immigration emergency. Equity markets […] More
