Foreign Exchange Insights and Next Week
Next Week’s Menu: July 22-28, 2023
July 21, 2023
Central Banks: Monetary policy reviews are scheduled at the Federal Reserve, European Central Bank, Bank of Japan and in Colombia. BOJ Governor Ueda, ECB President Lagarde, and Fed Chairman Powell hold press conferences. The quarterly BOJ Outlook for Economic Activity and Prices and minutes of the Bank of Canada meeting will be published. Spanish Parliamentary […] More
Central Bank Watch
Full Percentage Point Russian Central Bank Rate Hike… More Tightening Promised
July 21, 2023
A full percentage point hike in the Central Bank of Russia’s overnight interest rate to 8.5% was twice as large as markets anticipated, and the action was accompanied by a hawkish statement that depicted the move as the first of multiple increases that will follow in the months ahead. Labor market shortages resulting from President […] More
New Overnight Developments Abroad - Daily Update
Dollar Firm With Focus on Inflation and Central Bank Policy
July 21, 2023
The dollar rose overnight by 1.2% against the yen, 0.8% and 0.6% relative to the New Zealand and Australian currencies, 0.7% versus the Turkish lira and 0.2% vis-a-vis sterling. The euro kept pace with the dollar, and the Russian ruble jumped 1.1%. These movements correlated well with perceived monetary policy stances. A full percentage point […] More
