Archive for April 23rd, 2021

Foreign Exchange Insights and Next Week

Next Week’s Menu: April 24 – 30, 2021

April 23, 2021

Central Banks: Monetary policy reviews are scheduled next week at the Federal Reserve, Bank of Japan, Swedish Riksbank, and in Hungary and Colombia. Fed Chairman Powell will hold a press conference. So will Bank of Japan Governor Kuroda. The BOJ will publish an updated Outlook for Economic Activity and Prices. Holidays: New Zealanders observe ANZAC […] More

Central Bank Watch

A Second Interest Rate Hike in Russia, and It’s Bigger than Forecast

April 23, 2021

The Central Bank of Russia, by contrast, today raised its interest rate benchmark by more than expected despite increasing voter dissatisfaction with President Putin. An initial 25-basis point rate increase on March 19 had constituted a trend reversal. By last July, the rate had been lowered last year by a total of 200 basis points […] More

New Overnight Developments Abroad - Daily Update

April PMI Results, Bold U.S. Policy Proposals, and a 50-Basis Point Central Bank Hike in Russia

April 23, 2021

The weighted dollar fell 0.3% overnight and double that for the week. Against specific other currencies, the dollar lost 0.7% against the Japanese yen, 0.3% relative to the euro, Australian dollar and sterling, and 0.2% versus the Swiss franc, Mexican peso, and New Zealand and Canadian dollars. The dollar held steady against the Chinese yuan […] More