Foreign Exchange Insights and Next Week
Next Week’s Menu: August 13 – 19, 2022
August 12, 2022
Central Banks: Monetary policy stances will be reviewed in Norway, New Zealand, Turkey, Sri Lanka and the Philippines. Policy meeting minutes will be published by the Federal Reserve and Reserve Bank of Australia. Holiday: Indonesia’s Independence Day on Wednesday. Scheduled U.S. Economic Data Releases: Industrial production, capacity use, retail sales, housing starts, building permits, existing […] More
Central Bank Watch
Bank of Mexico Raises Key Interest Rate by 75 Basis Points
August 12, 2022
Officials at the Bank of Mexico by a unanimous vote agreed to lift their overnight interbank lending rate by 75 basis points to 8.5%, which matches the highest rate level since November 2005. From February 2020 through February 2021, the rate had been reduced 325 basis points in total to 4.0%, but rate increases that […] More
Central Bank Watch
Peruvian Central Bank Rate Hike
August 12, 2022
The Central Reserve Bank of Peru‘s policy interest rate was raised by another 50 basis points, bringing such to 6.5%. It has been increased by a half percentage point in each of the first eight months of 2022 as well as in each of the last four months of 2021. There was an initial 25-basis […] More
New Overnight Developments Abroad - Daily Update
Dollar Closing August’s Second Week on an Up Note
August 12, 2022
Prior to the release of U.S. import price data, the dollar was showing overnight gains of 0.6% against the yen and sterling, 0.5% versus the DXY weighted index, 0.4% relative to the euro and 0.3% vis-a-vis the Aussie dollar. A number of factors are supporting the dollar: lessened inflation concerns after reports of lower-than-forecast CPI […] More
