Archive for July 14th, 2021

Central Bank Watch

Further Scale-Back of Canadian Bond Buying by Bank of Canada

July 14, 2021

The central bank’s Governing Council kept the overnight rate target at 0.25% and indicated in its statement that such is unlikely to be raised until sometime in the second half of 2022. But the weekly pace of government bond purchases was reduced by a billion Canadian dollars to C$ 2 billion. Such had been cut […] More

Central Bank Watch

New Zealand Monetary Authorities to Stop an Asset Buying Program

July 14, 2021

The U.S. dollar’s most significant movement overnight has been a 1.0% decline against the New Zealand dollar, which rose following an initial tapering of monetary policy stimulus announced by the Monetary Policy Committee of the Reserve Bank of New Zealand. A released statement after a scheduled policy review, opined ┬áthat, in the absence of any […] More

New Overnight Developments Abroad - Daily Update

Data Evidence of Higher Inflation and a Setback in Industrial Production

July 14, 2021

In overnight currency market action, the weighted dollar touched its highest level (92.83) since very early in April but subsequently settled back to 0.1% below its Monday closing level. Net dollar losses so far today are 0.4% versus the Mexican peso, 0.3% relative to sterling and 0.1% versus the yen, euro, loonie and Australian dollar. […] More

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