Central Bank of Azerbaijan
Dollar Up Slightly Ahead of U.S. Jobs Data and Tuesday’s Election
November 1, 2024
U.S. opinion polls continue to reflect a tight presidential race but investors believe Trump will be the winner. The consensus of economic analysts ahead of the Labor Dept employment situation October report, due shortly, is that the U.S. likely gained around 120k new jobs, with unemployment holding at 4.1% and wage growth hovering around 4.0%. […] More
European Price Data Released And Now Awaiting the Fed’s Opening Rate Cut Move
September 18, 2024
Fed officials have already signaled a readiness to begin a cycle of interest rate cuts starting today but the size of this opening gambit will only then be disclosed. Investors are also hoping to get a better sense of the likely path rates take during the coming 6-12 months. The rate change’s size and updated […] More
Nascent European Recovery Suffered a Setback in June
June 21, 2024
Euroland’s composite purchasing managers index dropped 1.3 points to 50.8 this month, according to preliminary findings. This 3-month low defied market expectations of a further advance above the 50 neutral level, having previously risen from 46.5 last October to 52.1 in May. A deceleration in demand strength suggests June’s drop is unlikely to be a […] More
Rate Cuts by Central Banks in Azerbaijan and Colombia
May 1, 2024
The Central Bank of Azerbaijan, where CPI inflation of 1.0% in March was at a 111-month low and down from 13.9% touched in December 2022, the refinancing rate has been sliced by another quarter percentage point to a 29-month low of 7.25%. This was the fifth reduction since a peak of 9.0% that prevailed from […] More
May Day and the FOMC
May 1, 2024
Financial markets are shut in a slew of countries — but not in the U.K., Japan or the United States — for May Day observances that extol the rights of workers. The dollar is modestly higher. Japanese officials have not confirmed nor denied yesterday’s strongly suspected intervention triggered after the yen fell to as low […] More
Much More Than an FOMC Announcement Day
February 1, 2023
The FOMC policy statement at 19:00 GMT today (14:00 EST) will be followed half an hour later by the start of Chairman Powell’s press conference. Officials are expected to raise the target federal funds corridor by 25 basis points to 4.50-4.75%. This is the first scheduled FOMC meeting of 2023 and therefore the one in […] More
A Turn for the Worse in Ukraine-Russian Conflict Sends Dollar Up and Equities Down
March 18, 2022
Hopes had been kindled early this week by reports of progress in cease-fire talks, but those signs have not panned out, and a new worry is that China is moving closer to supporting Putin’s imperialistic ambitions. The Central Bank of Russia did not raise its 20% policy rate further at today’s scheduled review, claiming that […] More
Mixed Signals this Friday
September 18, 2020
China’s Shanghai Composite equity index jumped 2.1%, but share prices fell 1.4% in New Zealand and 0.3% in Australia and India. Japan’s Nikkei rose only 0.2%, and Spanish stocks have so far dropped 1.2% on the day. The dollar climbed to another record high against the Turkish lira and shows a year-to-date advance of more […] More
