Archive for June 24th, 2021

Foreign Exchange Insights and Next Week

Next Week’s Menu: June 26 – July 2, 2021

June 24, 2021

Central Banks: Central banks in Colombia and Sweden will review their monetary policies. The Bank of Japan publishes the quarterly corporate Tankan survey and a summary of its last Board meeting. Governor Kuroda of the BOJ and Lowe of the Reserve Bank of Australia will speak publicly. Events and Holidays: The second round of regional […] More

Central Bank Watch

Bank of Mexico Reverses Rate Cut Done Four Months Ago

June 24, 2021

Mexico’s overnight interbank rate target had undergone six reductions totaling three percentage points in 2020 from 7.25% to 4.25%, and that easing cycle was culminated by a 25 basis point in February this year. Mexican real GDP had imploded 8.25% last year and experienced an eighth consecutive year-on-year drop last quarter, that time by 3.6%. […] More

New Overnight Developments Abroad - Daily Update

Signs of Economic Recovery and Monetary Policy Patience

June 24, 2021

Overnight dollar movements were mostly down but slight in magnitude. The U.S. currency slid 0.4% against the Mexican peso, 0.3% relative to the New Zealand dollar, 0.2% versus the yen, and 0.1% against the euro, Aussie dollar, loonie and yuan. The dollar also rose 0.5% versus the Turkish lira and 0.3% against sterling. Relative to […] More