Deeper Analysis
May 2025 in Figures
May 31, 2025
Net dollar movements in May were inconsequential. The same cannot be said about long-term interest rates. Ten-year sovereign debt yields rose in the United States, Great Britain and Canada but fell in several members of the euro area. Central Bank interest rates during May were cut by a full percentage point (100 basis points) in […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: May 31-June 6, 2025
May 30, 2025
Central Banks: Interest rate reviews at the European Central Bank, Bank of Canada, National Bank of Kazakhstan, Reserve Bank of India and National Bank of Poland. The Fed Beige Book of regional U.S. economic conditions, Bank of Canada quarterly Monetary Policy Report, and Minutes from the last Reserve Bank of Australia Board meeting get published. […] More
New Overnight Developments Abroad - Daily Update
Mountains of Data to Absorb
May 30, 2025
Typical of the final business day of the calendar month, a great many data reports around the world have arrived. In addition, investors have again been whipsawed by fresh tariff news. It took only a matter of hours after yesterday’s U.S. Court of International Trade’s ruling against many of the Trump Administration’s tariff hikes for […] More
Central Bank Watch
Korean and South African Interest Rate Cuts to 2.5% and 7.25%
May 29, 2025
Central bank interest rates were sliced today by 25 basis points in both South Korea and South Africa. South Korea‘s new Base Rate becomes 2.50%, its lowest level since October 2022. A peak of 3.5% had been maintained from January 2023 until an initial cut last October. Quarter percentage point reductions were also done in […] More
New Overnight Developments Abroad - Daily Update
Favorable Nvidia Earnings, Revised U.S. GDP Data, and A Significant Court Ruling Against U.S. Tariff Policy
May 29, 2025
Nvidia’s first quarter earnings leaped over 70% year-on-year, crushing analyst expectations and eliciting a 5.4% pre-open jump in the AI computer chipmaker’s share price. A small revision to U.S. quarterly GDP growth last quarter from -0.3% at an annualized rate to -0.2% in the second of three planned estimates masks some sizable changes in the […] More
Central Bank Watch
Another New Zealand Interest Rate Cut
May 28, 2025
The reduction to 3.25% from 3.50% in policy interest rate of the Reserve Bank of New Zealand returns such to its lowest level since October 2022 and brings the cumulative decline to 225 basis points from a peak of 5.50% sustained from September 2023 until August 2024. The 5-1 vote to cut the rate today […] More
Foreign Exchange Insights and Next Week
Higher Long-Term Interest Rates But Scant Changes So Far Today in Dollar or Equities
May 28, 2025
The 10-year Japanese JGB yield climbed five basis points this Wednesday back to 1.50% despite a warning from Bank of Japan Governor Ueda that volatile long-term rates carry risk. Other 10-year sovereign debt yields have risen by 3 basis points in the U.K., 2 bps in the United States, and a basis point in Germany, […] More
New Overnight Developments Abroad - Daily Update
Some Fresh Policy Signals
May 27, 2025
Officials at Japan’s Ministry of Finance signaled an intent to dampen Japanese bond issuance in an effort to counter upward pressure on long-term yields. Governor Ueda of the Bank of Japan warned of upside risks surrounding core inflation in an apparent indication that the next BOJ interest rate hike is coming sooner rather than later. […] More
New Overnight Developments Abroad - Daily Update
Trump Interrupts American and British Holidays with a Social Media Blitz
May 26, 2025
(190) Monday ought to have been a quiet session in world financial markets given the holiday observances of Memorial Day in the United States and the late spring bank holiday in the United Kingdom, plus a scarcity of items on the global data release menu. Several provocative postings by President Trump on Truth Social made […] More
Foreign Exchange Insights and Next Week
Next Week’s Menu: May 24-30, 2025
May 23, 2025
Central Banks: Monetary policies will be reviewed in Israel, Kyrgyzstan, South Africa, New Zealand, South Korea, and Hungary. Fed officials speaking publicly include Chairman Powell and also Bostic, Goolsbee, Waller, Kashkari, Waller, and Williams. FOMC minutes will be published. Holidays: The U.S. Memorial Day and late spring British bank holidays fall on Monday. Some European […] More
