Deeper Analysis
March 2025 and 1Q25 in Figures
March 31, 2025
World investors had a bad case of tariffobia during the first ten weeks of the Trump presidency, and it showed in a relatively weak performance of North American equities, higher sovereign debt yields, a sharp rise in the price of gold into record high territory, and dollar losses against several other currencies. Monetary policies became […] More
New Overnight Developments Abroad - Daily Update
Seeking Safety Over Risk on Final Day of the Quarter
March 31, 2025
(198) The main theme in financial markets today has been a flight to safety, with stock markets tumbling 4.2% in Taiwan, 4.1% in Japan, 1.5% in Thailand and Vietnam, and 1.3% in Hong Kong. Major euro area stock markets so far show drops of 1.5-2.0%.The British FTSE is 1.4% weaker, and Nasdaq futures are down […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: March 29 – April 4, 2025
March 28, 2025
Central Banks: Monetary policy reviews are scheduled in Colombia, Australia, Poland and the Philippines. The Bank of Japan’s Tankan quarterly survey of corporate conditions and expectations and minutes from the last policy meetings at the European Central Bank and the Bank of Russia will be published. Holidays and Special Events: Eid al-fitr, which marks the […] More
Central Bank Watch
Mexican Central Bank Rate Cut
March 28, 2025
The Bank of Mexico‘s overnight interbank rate has been cut another half percentage point to 9.0%, its lowest level since September 2022. There was a 50-basis point cut at the prior February review of monetary policy and five previous cuts of 25 basis points that began a year ago in March 2024. Mexican CPI inflation […] More
New Overnight Developments Abroad - Daily Update
U.S. Personal Consumption Report and Many European Data Releases
March 28, 2025
Shortly before the release of U.S. personal income, PCE and the PCE price deflator this Friday morning, the dollar was showing overnight advances of 0.3% against the euro and peso, 0.2% versus the the Swiss franc and sterling, and 0.1% relative to the Canadian dollar. The dollar benefited from tariphobia. Uncertainty ahead of next Wednesday’s […] More
New Overnight Developments Abroad - Daily Update
U.S. Pivots Back to Tariff Threats, Sending Equity Markets Lower in Europe and Much of Asia
March 27, 2025
Share prices on Thursday fell 1.4% in Taiwan and South Korea, 0.6% in Japan, and 0.4% in Australia, and European stock markets so far show losses of 04-0.8% in Germany, France, the U.K. and Italy. In pre-open U.S. trading, some key U.S. automaker and tech company stocks have sold off sharply, but overall indices are […] More
New Overnight Developments Abroad - Daily Update
Tentative Black Sea Ceasefire, Lower-Than-Forecast British Inflation & Chancellor Reeves to Augment Spending Cuts
March 26, 2025
A tentative U.S.-brokered deal to end Black Sea combat and attacks on energy infrastructure has been announced between Ukraine and Russia, provided the U.S. reduces economic sanctions against Putin’s state. British Chancellor of the Exchequer Reeves is now delivering her Spring Economic Statement, updating forecasts and unveiling additional spending cuts. Separately, British February CPI figures […] More
Uncategorized
Markets Await Fresh Cues
March 25, 2025
The weighted DXY dollar index hasn’t extended yesterday’s rise to a 2-week high but hasn’t fallen far back either, with overnight losses of 0.3% against the euro, 0.2% versus the yen and Aussie dollar and 0.1% relative to sterling and the Mexican peso but 0.1% upticks versus the kiwi and Swiss franc. U.S. stock futures […] More
New Overnight Developments Abroad - Daily Update
Little Resolution to a Variety of Uncertainties Afflicting Investor Decisions
March 24, 2025
(199) The dollar hardly moved against most other major currencies, sliding 0.2% against the Swiss franc, Mexican peso, Australian dollar and sterling, holding flat versus the Canadian dollar, but rising 0.2% relative to the South Korean won and New Zealand dollar. Bigger gains of 0.4% and 0.6% occurred overnight against the Japanese yen and Turkish […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: March 22-28, 2025
March 21, 2025
Central Banks: Interest rate policies will be reviewed in Mexico, Hungary, Norway and the Czech Republic. Minutes from previous policy meetings are to be published for Brazil, Canada and Japan. Governor Bailey of the Bank of England will speak publicly. Special Event: British Exchequer of the Treasury Reeves delivers the Spring Statement to parliament on […] More
