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June 21, 2021
Markets had expected the FOMC meeting last week to push back against concerns related to this year’s supply delay-driven rise in inflation and were surprised when that opportunity wasn’t fully utilized. The dot-plot diagram of individual member interest rate path preferences shifted the likely timing of the first hike in the federal funds rate from […] More
Tags: Australian retail sales, Federal Reserve policy intentions
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
June 18, 2021
The dollar edged 0.1% higher overnight against its weighted DXY index to its strongest level since April 12. In bilateral terms, the U.S. currency advanced 0.4% against the Australian dollar, 0.3% versus the New Zealand dollar and sterling, 0.2% relative to the Swiss franc and 0.1% vis-a-vis the loonie, but the dollar dipped 0.1% against […] More
Tags: Bank of Japan, British retail sales, Euroland current account, German PPI, Japanese CPI
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
June 17, 2021
Markets had reacted late Wednesday to the Federal Reserve‘s signal that its initial interest rate hike is likely to occur during 2023, rather than 2024 as implied previously. Several other central banks had scheduled policy reviews whose results were learned subsequently. At the time of the opening of U.S. stock market trading on Thursday, the […] More
Tags: Bank Indonesia, Bank of Norway, Central Bank of Brazil, Central Bank of the Republic of China (Taiwan), Central Bank of Turkey, Euroland CPI, National Bank of Ukraine, Swiss National Bank
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
June 16, 2021
The Biden-Putin summit is underway and expected to last around five hours. The U.S. political leaders will then hold separate individual press conferences rather than a joint event. The Federal Open Market Committee is not expected to change monetary policy settings but could for the first time indicate that it’s not too early to begin […] More
Tags: British CPI and PPI, Canadian CPI, Chinese industrial production and retail sales, Japanese trade and machinery orders, U.S. import prices
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
June 15, 2021
The U.S. dollar‘s largest overnight gains are against the Turkish lira (1.1%), Canadian dollar and sterling (each +0.4). After his meeting with Biden, Turkish President Erdogan didn’t back off his provocative military plans, and that weighed on the lira. In Pacific Rim stock market action, markets in New Zealand, Japan, Australia Taiwan, and Singapore closed […] More
Tags: and French consumer prices, and industrial production, Euroland trade balance, German, Italian, retail sales, U.S. PPI
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
June 14, 2021
The dollar is 0.1% softer on a weighted basis, and most key dollar currency pairs have barely moved from Friday closing levels. Not only are investors marking time until Wednesday’s FOMC announcement, but several markets were closed today (China, Taiwan, and Hong Kong for the Dragon Boat Festival and Australia for the Queen’s Birthday holiday). […] More
Tags: Euroland industrial production, foreign exchange, Japanese industrial production
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
June 11, 2021
Leaders of the Group of Seven (U.S., Japan, Germany, France, Italy, U.K., and Canada) are holding their annual summit in Cornwall, England. A third successive hike of the Central Bank of Russia has been engineered, and its 50-basis point increase to 5.5% exceeded forecasts of a 25-basis point move. The rate had been raised by […] More
Tags: British trade balance and industrial production, Central Bank of Russia, Central Reserve Bank of Peru, German WPI
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
June 10, 2021
Climate change and challenges from China and Russia headline the agenda of this year’s Group of Seven summit in Cornwall, U.K.. This is U.S. President Biden’s first summit. The Governing Council of the European Central Bank, as expected, did not modify its accommodative monetary stance nor forward guidance regarding future policy. Key interest rates (a […] More
Tags: Bank of Canada, European Central Bank, G7 Summit, National Bank of Serbia, U.S. CPI
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
June 9, 2021
Consumer prices in China recorded their third month-on-month drop in a row, slipping 0.2% in May after declines of 0.3% in April and 0.2% in March. That didn’t prevent another acceleration of on-year CPI inflation, which advanced to an 8-month high of 1.3%. Moreover, price pressure at the producer level rose sharply again from 6.8% […] More
Tags: Biden's trip to Euroope, China CPI, German current account
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
June 8, 2021
The dollar slipped overnight by 0.4% against the Mexican peso, 0.3% relative to the Turkish lira and 0.2% versus the Swiss franc but rose but 0.2% versus the kiwi and sterling and 0.1% relative to the euro, yen, and Australian dollar. There’s been no net change in the Chinese yuan or Canadian dollar. Ten-year sovereign […] More
Tags: Euroland GDP, Japanese GDP, Taiwanese CPI and PPI, U.S. and Canadian trade balances
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
