Deeper Analysis
April 2020 in Figures
April 30, 2020
Imposed business shutdowns around the world in March had severely rattled financial market confidence, sending share prices sharply lower and the dollar significantly upward. The feared negative impact on economic data was visibly confirmed during April, but forward-looking investors found hope in the policy response of low interest rates and fiscal support. Although long-term interest […] More
Foreign Exchange Insights and Next Week
Handicapping the Dollar Outlook in a Pandemic-Preoccupied Era
April 30, 2020
Projecting the dollar’s value has always been very challenging and humbling. Economic trend forecasting is hard enough, and anticipating the reaction of financial markets to different economic scenarios introduces a whole new level of uncertainty to the exercise. Market watchers this year have been dealing with a third broad complication and the most vexing of […] More
Central Bank Watch
No Fireworks from ECB this Time
April 30, 2020
At a scheduled meeting of the European Central Bank Governing Council, officials left key interest rate unchanged (a 0.0% refinancing rate flanked by a -0.5% deposit rate and a 0.25% marginal lending rate). Quantitative stimulus (asset purchases) was not enhanced beyond last month’s parameters. Terms were relaxed on some lending operations, and a new series […] More
New Overnight Developments Abroad - Daily Update
ECB Monetary Policy Review and Some Atrocious Economic Data
April 30, 2020
At a scheduled meeting of the European Central Bank Governing Council, officials left key interest rate unchanged (a 0.0% refinancing rate flanked by a -0.5% deposit rate and a 0.25% marginal lending rate). Quantitative stimulus (asset purchases) was not enhanced beyond last month’s parameters. Terms were relaxed on some lending operations, and a new series […] More
