Archive for July 9th, 2020

Central Bank Watch

Sri Lanka’s Fifth Central Bank Rate Cut of 2020

July 9, 2020

The Central Bank of Sri Lanka became the latest monetary authority to slash interest rates. The Standing Deposit Facility and Standing Lending Facility rates were each reduced by 100 basis points to 4.5% and 5.5%, respectively. Earlier this year, cuts of 25 bps in March and April were sandwiched between 50-basis point cuts in January […] More

Foreign Exchange Insights and Next Week

Trade-Weighted Dollar Down About 6% from 2020 High

July 9, 2020

Ever since fixed dollar parities were abandoned in March 1973, analysts have used trade-weighted compilations of bilateral dollar values against other heavily traded currencies to gauge a gestalt of the dollar’s average performance. In one such index created by the Fed at the dawn of the floating dollar era, the dollar has ranged as high […] More

New Overnight Developments Abroad - Daily Update

Covid Risk and Political Uncertainty on the Market’s Mind

July 9, 2020

The global count of Covid-19 cases rose 216 thousand in the past 24 hours to roughly 12.2 million. In that span, there was a record 62 thousand rise in U.S. reported cases, even as President Trump threatened repercussions to school districts that do not reopen in the fall. The Covid death count stands just above […] More