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November 23, 2021
Of the two finalists for chairperson of the Federal Reserve, Powell was considered likelier than Brainard to secure the earlier initial hike of the federal funds rate. Both candidates remain on the Federal Reserve Board of Governors, Brainard as Vice Chairman, and Biden still has three vacancies to fill and thus additionally shape future monetary […] More
Tags: Powell renomination, preliminary purchasing managers survey results
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
November 22, 2021
Market movement has been limited this Monday. The most notable development has been a net 0.3% drop in the net price of oil. WTI crude is down 0.3% but about a dollar above the intra-day seven-week low of $74.68 per barrel. The weighted DXY dollar index has edged up 0.1% but is currently close to […] More
Tags: Chinese loan prime rates, Dutch and Belgian consumer confidence, Turkey consumer confidence
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
November 19, 2021
The weighted DXY dollar index advanced 0.4% overnight, climbing 0.7% against the euro, 1.2% versus the Turkish lira, 0.5% relative to the Australian dollar, kiwi and sterling, 0.4% vis-a-vis the Canadian dollar but just 0.1% against the Swiss franc, which traditionally thrives when global inflation becomes a concern. News today on the Covid-19 front has […] More
Tags: ECB President Lagarde, German PPI, Japanese CPI, UK retail sales
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
November 18, 2021
Central bank officials today cut Turkey’s one-week repo rate by 100 basis points, left record-low policy interest rates unchanged in the Philippines and Indonesia, and are widely expected to announce an interest rate hike in South Africa. This year’s unexpectedly sharp acceleration of inflation to multi-year and multi-decade highs around the world has overshadowed Covid […] More
Tags: Bangko Sentral Ng Pilipinas, Bank Indonesia, Central Bank of Turkey, South Africa Reserve Bank
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
November 17, 2021
The weighted DXY dollar index touched 96.24 overnight, its strongest level since the first week of July 2020, but has settled back to show no net changed. Relative to Tuesday closing levels, the dollar is down 0.3% relative to the kiwi, yuan, peso, and sterling and by 0.1% vis-a-vis the euro, yen and loonie. The […] More
Tags: Bank of Iceland, Central Bank of Iceland, Central Bank of Jamaica, Euroland CPI, Japan trade balance and machinery orders
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
November 16, 2021
The virtual summit between the Presidents of China and the United States exceeded three hours. The talks were reportedly civil but didn’t yield newsworthy compromises on the key contentious issues. The Fed and Bank of England seem closer to an interest rate lift-off than the European Central Bank or Bank of Japan. Minutes published from […] More
Tags: British labor market data, Growth in Euroland GDP and jobs, Japanese tertiary index, Reserve Bank of Australia minutes
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
November 15, 2021
Meaningful data were reported Monday in Japan and China, but investors chose to maintain an advent posture pending other pieces of information that could emerge in the next 24-hour period. These include a virtual summit between Presidents Joe Biden of the U.S. and Xi Jinping of China that is intended to quell mounting tension between […] More
Tags: Chinese industrial production and retail sales, Euroland trade surplus, Japanese GDP and industrial production
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
November 12, 2021
The dollar marked time overnight. It’s weighted DXY value did not climb further after reaching highs on Thursday not seen since July 2020. The dollar is also unchanged from Thursday closing levels against the euro, yen, loonie, and kiwi, up 0.3% versus the Turkish lira and 0.2% against the Swiss franc but down 0.2% vis-a-vis […] More
Tags: Bank of Mexico, Central Reserve Bank of Peru, Euroland industrial production, German WPI, Indian consumer prices
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on A Mostly Inconsequential Friday
November 11, 2021
Today marks the 103rd anniversary of the “war to end all wars,” which is known by a variety of different names — for instance, Armistice Day in France and Germany, Remembrance Day in Canada and Veterans Day here in the United States. U.S. stock markets will be open, but no U.S. data releases are planed. […] More
Tags: Australian unemployment, British industrial production and trade deficit, Japanese PPI
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Inflation Taking No Days Off for the Holiday
November 10, 2021
The dollar didn’t move much right after U.S. CPI data were released but had already advanced by 0.0.4% overnight on a weighted basis before then to within 0.2% of its 52-week high. Dollar gains amounted to 0.5% against the kiwi and sterling, 0.4% relative to the euro and yen, and 0.3% vis-a-vis the Swiss franc […] More
Tags: Central Bank of Thailand, Chinese CPI and PPI, National Bank of Romania, U.S. CPI
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on More Signs of Intensifying Inflation and Another Central Bank Rate Hike
