New Overnight Developments Abroad - Daily Update

Firmer Dollar as Investors Await U.S. Data Today and FOMC Tomorrow

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

New Overnight Developments Abroad - Daily Update

With an Eye Toward Wednesday’s FOMC Meeting, Markets in Pause Mode

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

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Next Week’s Menu: June 12 – 18, 2021

June 11, 2021

Central Banks: Monetary policies will be reviewed in the United States, Japan, Indonesia, Turkey, Brazil, Switzerland, Norway, Ukraine and Taiwan. Fed Chairman Powell, BOJ Governor Kuroda, Reserve Bank of Australia Governor Lowe, and Swiss National Bank President Jordan will be speaking publicly. RBA minutes to be published. Events and Holidays: U.S. President Biden’s trip to […] More

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Half Percentage Point Central Bank Interest Rate Hike in Russia

June 11, 2021

  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 50 basis points in April and 75 bps in May. A statement from the Board of Directors after the scheduled policy […] More

New Overnight Developments Abroad - Daily Update

G7 Summit and a Greater-than-Expected Interest Rate Hike in Russia

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

New Overnight Developments Abroad - Daily Update

G7 Meetings, ECB Press Conference, and Released CPI and Industrial Production Share Spotlight

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

New Overnight Developments Abroad - Daily Update

Signs Emerging that Inflationary Momentum May Be Flattening

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

New Overnight Developments Abroad - Daily Update

Narrowly Mixed Dollar… Tuesday Data Menu Features GDP

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

New Overnight Developments Abroad - Daily Update

Generally Quiet Financial Markets This Morning

June 7, 2021

Compared to Friday closing levels, the U.S. dollar is unchanged against the yuan and euro, 0.1% softer versus the yen, loonie, Swissie and sterling, and down 0.2% relative to the Australian and New Zealand dollars. Stock markets in Asia closed down 0.5% in Hong Kong and 0.4% in Taiwan but up by 0.8% in Singapore, […] More

Foreign Exchange Insights and Next Week

Next Week’s Menu: June 5 – 11, 2021

June 5, 2021

Central Banks: Monetary policy meetings are scheduled for the coming week at the European Central Bank and in Russia, Serbia, Peru, Poland and Canada. ECB President Lagarde, Bank of Canada Governor Macklem, Bank of England MPC member Haldane, and Reserve Bank of Australia Assistant Governor Kent are a few of the central bankers who will […] More

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