Deeper Analysis
November 2023 in Figures
November 30, 2023
Financial market movements in November 2023 were dominated by decelerating inflation around the world, falling energy prices and the consequence of those trends on expectations of future monetary policies. Central bank benchmarks for short-term interest rates were changed in only a couple of instances, including Australia (+25 basis points), Turkey (+500 basis points), Brazil (-50 […] More
Foreign Exchange Insights and Next Week
A Lack of Dollar Volatility in 2023 So Far
November 28, 2023
With only a month left in 2023, this year ranks comparatively low in net dollar movement against other highly traded currencies. The range against the euro from a high of $1.0506 in October from a low $1.1243 in July constitutes a trading range spread of just 7.0%, and the current rate of $1.0993 is a […] More
New Overnight Developments Abroad - Daily Update
Dollar Slightly Lower in Pre-Thanksgiving Trading
November 21, 2023
The dollar fell overnight by 0.7% against the yuan, 0.5% versus the yen but just 0.2% relative to sterling and 0.1% against the euro and Swiss franc. Investors await the release at 20:00 GMT today (15:00 EST) of FOMC minutes. Ordinarily a Wednesday event, such are being released a day early due to the upcoming […] More
New Overnight Developments Abroad - Daily Update
Dollar Opens Week of Thanksgiving with a Dip
November 20, 2023
The dollar fell overnight by 1.0% against the yen, 0.7% versus the kiwi, 0.6% vis-a-vis the Australian dollar and Chinese yuan, 0.3% against the Mexican peso, 0.2% versus the Swiss franc and 0.1% relative the the euro and sterling. Data and event highlights this week will include Federal Reserve FOMC minutes, the British Autumn Statement […] More
New Overnight Developments Abroad - Daily Update
Softer Growth Into the Holidays
November 17, 2023
With the Thanksgiving holiday less than a week away, 2023 is moving into the home stretch with plenty of unanswered questions. Investors wonder how the twin wars in Ukraine and Gaza will resolve and whether the federal funds rate has in fact crested and, if so, how long it will stay at its peak. Will […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: November 18 – 24, 2023
November 17, 2023
Central Banks: Minutes from recent policy review meetings will be published by the Fed, Reserve Bank of Australia and European Central Bank. Monetary policy reviews are scheduled in Sweden, Iceland, Sri Lanka, Turkey, South Africa, Indonesia and at the People’s Bank of China. Central bank officials with public speaking engagements include Reserve Bank of Australia […] More
New Overnight Developments Abroad - Daily Update
Awaiting Several More U.S. Data Releases Scheduled Today
November 16, 2023
In addition to the usual Thursday weekly report on jobless insurance claims, the U.S. data menu features import prices and industrial production and also includes the Philly Fed and K.C. Fed manufacturing surveys, the NAHB monthly housing market index, capacity utilization, and Treasury-compiled capital flows between the U.S. and other countries. So far, financial markets […] More
New Overnight Developments Abroad - Daily Update
More Favorable Data Reported for the U.S.
November 15, 2023
The U.S. producer price index dropped 0.5% on month (most in 42 months) and recorded a 3-month low of 1.3% when compared to the same month a year earlier. Core producer prices — unchanged versus September and +2.4% year-on-year — was 0.3 percentage points below expectations. U.S. October retail sales contracted by a smaller-than-anticipated 0.1% […] More
New Overnight Developments Abroad - Daily Update
U.S. CPI Figures about to Be Released
November 14, 2023
Analysts expect to learn of a further dip in U.S. inflation last month shortly. While waiting for confirmation, financial markets around the world marked time overnight. Dollar changes against other major currencies were held to plus or minus 0.2%. U.S. stock futures are likewise steady. Share prices in the Pacific Rim closed up 0.3% in […] More
New Overnight Developments Abroad - Daily Update
Potentially Momentous Week Starts Quietly
November 13, 2023
The dollar edged 0.2% higher overnight against the Japanese yen, Canadian dollar, Swiss franc, and both the Aussie and New Zealand currencies. The dollar firmed 0.1% against the euro but slid 0.1% relative to sterling. Share prices in the Pacific Rim closed mixed, with gains of 1.3% in Hong Kong and 0.9% in Taiwan but […] More
