Deeper Analysis
Thursday’s U.S. Data Release Highlights
October 27, 2022
The composition of U.S. real GDP growth last quarter reveals a weaker economy than the quarter-on-quarter annualized growth rate of 2.6% or the unchanged 1.8% year-on-year GDP increase. Personal consumption, which accounts by far for the largest share (70.7%) of GDP, rose only 1.4%, or a bit less than half as fast as GDP, and […] More
Central Bank Watch
ECB Raises Interest Rate and Changes Terms of Pandemic Relief to Banks
October 27, 2022
The European Central Bank engineered its third interest rate hike since midyear, a hike of 75 basis points that matches its previous action. The first hike in July amounted to 50 basis points. The new rate structure is a 2.0% refinancing rate flanked by a 1.50% deposit rate and a 2.25% on the marginal lending […] More
New Overnight Developments Abroad - Daily Update
Egyptian Pound Floated; Investors Await ECB Announcement
October 27, 2022
The weighted dollar index recovered 0.9% from its overnight low but remains 4.1% below its recent 52-week peek. Overnight net advances in the U.S. dollar range from 0.2% against the Japanese yen to 0.8% versus the Australian dollar and Chinese yuan, with gains of 0.5% relative to the Canadian dollar, kiwi, and Swiss franc, 0.4% […] More
