BOJ
High-Flying Yen
April 7, 2016
The yen climbed to new highs for the move of 108.02 per dollar and 123.12 per euro. The yen overnight gained 1.3% on balance against the U.S. currency despite yesterday’s hint from a Ministry of Finance official that intervention is possible. Today, Prime Minister Abe seemed to undermine that threat, saying that countries should not […] More
Mostly Firmer Dollar as Markets Eye U.S. Primaries and Upcoming FOMC and BOJ Meetings
March 14, 2016
There’s been a 12.7% devaluation of the Egyptian pound. The U.S. currency has risen against a wide array of other emerging market currencies, too, as investors upgrade the probability of further Fed tightening before midyear. The dollar shows gains of 0.6% against the kiwi, 0.5% versus the Swiss franc and loonie, 0.4% vis-a-vis the euro, […] More
Markets Confused and Fearful about the Coming Year
December 18, 2015
Noontime in New York finds U.S. equities down over 1.0%, the ten-year Treasury yield off two basis points, and the dollar depressed by 1.3% against the yen, 1.0% versus the Aussie dollar, 0.8% relative to the kiwi, 0.5% against the loonie, 0.4% vis-a-vis the euro and 0.1% against sterling. Share prices fell 1.9% in Japan […] More
Markets Confused and Fearful about the Coming Year
December 18, 2015
Noontime in New York finds U.S. equities down over 1.0%, the ten-year Treasury yield off two basis points, and the dollar depressed by 1.3% against the yen, 1.0% versus the Aussie dollar, 0.8% relative to the kiwi, 0.5% against the loonie, 0.4% vis-a-vis the euro and 0.1% against sterling. Share prices fell 1.9% in Japan […] More
Dollar Little Moved by U.S. and Other Data
September 15, 2015
The dollar shows no net overnight movement against the euro, yuan and loonie, a rise of 0.3 against the Aussie dollar and sterling, a gain of 0.2% and 0.1% versus the kiwi and Swissie, and a drop of 0.2% relative to the yen. Chinese share prices slumped 3.5%, and there were stock market declines of […] More
China Steals Greece’s Thunder in the Market Spotlight
June 19, 2015
For whatever reason, markets are not taking the Greek debt standoff as seriously as one might expect. Neither the Tsipras government nor Greece’s creditors have taken steps that suggest a last minute compromise. But share prices in Europe are up 1.1% in Italy, 0.7% in Spain and 0.6% in Greece. Several markets in the Pacific […] More
Spotlight on Central Banks
January 21, 2015
In response to disinflationary implications of the plunge in oil prices, the Bank of Canada cut its overnight money rate target to 0.75% from 1.0%. Oil price changes also pose downside risks to growth, which is projected to fall to around 1.5% in the first half of this year, and to financial stability. The prior […] More
Central Bank Hit Parade
September 4, 2014
In a surprise move, the ECB cut all three of its interest rates by 10 basis points to a marginal lending rate of 0.30%, a refinancing rate of 0.05%, and a deposit rate of -0.2%. All three rates had been cut in July. Now markets await other possible steps like the purchase of ABS securities. […] More
Four Central Banks in the Spotlight
May 21, 2014
Minutes from the Bank of England’s meeting on May 7-8 revealed an increasing inclination by some members of the Monetary Policy Committee to entertain the thought of starting to raise interest rates, but the vote against doing so at that meeting remained unanimous. The debate is focused on determining how much slack remains in the […] More
Slow Day So Far
March 11, 2014
The U.S. dollar gained 0.2% overnight against the euro, Swissie and sterling and 0.1% versus the yen and loonie. The greenback is unchanged relative to the Australian dollar and yuan and down 0.1% against the kiwi. Share prices in the Pacific Rim rose 1.1% in Thailand, 0.7% in Japan, 0.6% in Indonesia, 0.5% in China […] More
