BOJ
Euro Strengthens With ECB in the Spotlight
July 20, 2017
The euro advanced 0.6% against the dollar and is not far beneath $1.16. The dollar otherwise climbed 0.4% relative to sterling, 0.3% versus the yen and Aussie dollar, 0.2% relative to the yuan and 0.1% versus the peso. The dollar dipped 0.1% against the Swissy and loonie. WTI crude oil rose 0.4% to $47.31 per […] More
Focus Shifting to Upcoming ECB and BOJ Monetary Policy Reviews
July 19, 2017
Yesterday’s story centered on the failed U.S. healthcare repeal and replace bill, which sent the dollar sharply lower. The dollar today has declined a further 0.4% against the yen and Australian dollar, 0.3% relative to the loonie and kiwi, and 0.1% vis-a-vis sterling and the Swiss franc. But the dollar recovered 0.2% against the euro […] More
Three Central Bank Meetings, Weaker Oil, and Several Data Releases
April 27, 2017
The dollar is up 0.5% against the kiwi, 0.4% relative to the loonie, and 0.3% against the euru and Aussie dollar but flat against sterling and softer versus the peso. Stocks are slightly lower in the U.S., Europe and Japan. Ten-year sovereign bond yields fell six basis points in Germany, France and Italy and by […] More
Big Day for Central Bank Policy Meetings
March 16, 2017
On Wednesday, the Federal Reserve increased its target fed funds rate band by 25 basis points to 0.75-1.0%. Although meeting expectations, remarks by Chair Yellen proved more dovish than expected. Policymakers envisage the same number of rate increases this year and next as they did back in December. On the central banking front today, The […] More
Monday Night Massacre, Lots of Released Data, and a BOJ Meeting
January 31, 2017
President Trump sacked Acting Attorney General Sally Yates late last night, who had refused to enforce his selective immigration ban, and replaced her with Dana Boente. The firing stirred recollections of Nixon firing of Eliot Richardson and Bill Ruckelshaus when they wouldn’t fire Watergate Special Prosecutor Archibald Cox in October 1973. In other U.S. political […] More
First the BOJ and Now onto the Fed
September 21, 2016
The Bank of Japan Board reconfigured its monetary policy framework, switching the policy’s anchor from quantitative stimulus with a negative marginal policy deposit rate to an orientation that aims to manipulate the yield curve, making such slope upward, and to raise expected inflation through plans to overshoot the inflation target. Details of the new approach are […] More
Awaiting News from the Bank of Japan and FOMC
September 20, 2016
Monetary policymakers in Japan and the United States are holding two-day meetings on Tuesday and Wednesday. The BOJ decision will hit the wires around 04:00 GMT tomorrow. The FOMC statement is scheduled for 18:00 GMT on Wednesday. Neither meeting’s outcome is obvious. The BOJ is conducting an atypical full assessment of its policy stance, considering […] More
Plenty of Disappointment to Go Around
July 29, 2016
Second quarter U.S. GDP growth of 1.2% was only about half as much as forecast, due mainly to a big drag from inventories. Canadian GDP sank 0.6% in May as industrial production there plunged 3.7% on month. The Bank of Japan produced less stimulus than hoped, limiting its action to an increase of EFT buying […] More
Eroded Confidence in Central Banks
June 16, 2016
The yen leaped as high as 103.55 per dollar from 105.95 at the Wednesday close following the Bank of Japan’s decision not to change policy settings at its June meeting. The Nikkei tumbled 3.1% to 15,434, and the 10-year JGB yield is at -0.21%. Investors were bummed out by Janet Yellen’s press conference yesterday. While […] More
Investors Shocked by BOJ’s Decision Not to Ease Policy Further
April 28, 2016
The yen climbed 2.6% against both the dollar and euro, the Japanese Nikkei plunged 3.6%, and the 10-year JGB yield fell 3 basis points to -0.09%. The dollar otherwise fell 1.2% against the kiwi and is down 0.3% relative to the loonie, Swissie, yuan, Aussie dollar and sterling. EUR/USD is flat. In other equity news, […] More
