Peoples Bank of China
Good Friday 2022 Brings Many Market Closures and a Focus on Russia and China
April 15, 2022
A great many markets will not be trading today, including those in the U.K., Germany, France, Italy, Spain, Switzerland, Australia, New Zealand, Hong Kong, Singapore, India, Canada, and the United States. Some U.S. economic data are being reported later, however, such as industrial production, capacity utilization, the Empire State monthly manufacturing survey, and Treasury-compiled international […] More
Second Chinese Interest Rate Cut This Week
January 20, 2022
Officials at the People’s Bank of China, who on Monday of this week had cut their 1-year and 1-week interest rates by five and 10 basis points respectively, doubled down today with a reduction of another ten basis points in the 1-year loan prime rate to 3.70% as well as a 5-basis point cut of […] More
Dollar Little Changed on Day that Saw Many Central Bank Meetings and Thick Menu of Released Data
January 20, 2022
The weighted dollar edged up by a marginal 0.1% overnight. It gained 0.1% against the euro and Swiss franc but is unchanged against the yen and sterling and down 0.1% versus the Canadian dollar. Stock market action in the Pacific Rim was widely varied, with Japan Nikkei and Hong Kong’s Hang Seng indices closing 1.1% […] More
A Turn for the Worse on Several Fronts Sends Equities Sharply Lower Around the World
December 20, 2021
The highly infectious Omicron Variant of Covid 19 is threatening to overwhelm hospitals and forcing authorities in many places to reimpose tighter restrictions against social gathering. Pfizer’s Covid vaccine trial on kids aged 2-5 did not result in an immunity rise as had been expected, which creates a childcare crisis and will likely prevent many […] More
Stocks Attempt to Bounce but Outlook Uncertain
July 9, 2021
Following Thursday’s wave of risk aversion, equities and sovereign debt yields rose in early Friday trading, and the dollar edged lower. Several Chinese and British data were release. The People’s Bank of China cut reserve requirements by 50 basis points, which is projected to release about one trillion yuan of extra liquidity and hopefully buttress […] More
Focus in Last Week of February to Be on U.S. Economic Policy
February 22, 2021
U.S. stock futures this Monday point to a lower open, with the S&P index down 0.8% and the Nasdaq off 1.4%. Share prices closed down 1.5% in China, 1.2% in New Zealand, 1.1% in Hong Kong and 0.9% in South Korea, while in Europe, equities are thus far down 0.5% or more in the U.K., […] More
Rise in Dollar and Share Prices
October 12, 2020
The People’s Bank of China over the weekend slashed reserve requirements on foreign exchange deposits to zero percent in a move to counter recent strength in the yuan, which gained 0.8% overnight. The move also buoyed China’s stock market by 2.6%. Other dollar gains overnight amount to 0.7% versus the Mexican peso, 0.4% relative to […] More
Broad Decline in Equities and Strengthening Moves in the Yen and Dollar
September 21, 2020
Japanese markets were closed today for Respect for the Aged Day and will remain so Tuesday for the Autumnal Equinox holiday. Elsewhere in the Pacific Rim, stock markets have dropped 2.3% in India, 2.1% in Hong Kong, 1.2% in Indonesia, and 0.7% in Australia and New Zealand. Selling intensified in Europe, where equities so far […] More
Sharp Equity Declines but Mixed Dollar
August 20, 2020
The U.S. equity market correction triggered by downbeat FOMC minutes released yesterday afternoon set the tone for overnight losses in European and Asian markets where bourses tumbled 3.7% in South Korea and 3.3% in Taiwan and by at least 1.0% in China, Hong Kong, Japan, Singapore, India, Germany, France, Italy, U.K., and Spain. Indonesia’s market did […] More
Broadly Softer Dollar amid More Hopeful Investor Mood
May 26, 2020
The evolution of the Covid-19 pandemic remains highly uncertain, but investors have chosen hope over fear at least for a day or so. Economies are being reopened at varying speeds, and there has been some encouraging news regarding vaccine development. Released economic data have confirmed improvement in many cases, meaning a slower implosion rather than […] More
