RBA minutes

Corrective Dollar Move Extended

July 19, 2022

The weighted DXY dollar index slid another 0.8% overnight to a 2-week low and is 2.6% below its recent multi-decade peak. Dollar losses since Monday’s close equal or exceed 1.0% relative to the euro, Swiss franc, Australian dollar, New Zealand dollar and especially the Russian ruble (-5.8%). The dollar also lost 0.6% versus sterling and […] More

Investors Seeking a Floor

June 21, 2022

Bottom-fishing lifted share prices by 1.8% in Japan, Pakistan and India, 1.9% in Hong Kong, 2.4% in Taiwan, and 1.4% in Australia this Tuesday. Equities currently are up 1.2% in France and show a 0.7% rise in Italy, Germany, and Great Britain. U.S. stock futures have climbed around 1.7%. Mixed movement in the dollar saw […] More

Counting Down the Days

October 20, 2020

It’s T-minus two weeks to the U.S. presidential and congressional election. In national polls, Biden leads by just under 10  percentage points, but suspense continues because of Trump’s refusal to say he will honor the result, the electoral college distortion that necessitates a Democrat to secure a 5% or greater popular vote plurality in order […] More

Confidence Rising that Central Banks Will Counter Deteriorating Global Economic Outlook

June 18, 2019

Today could have been an ugly day in world financial markets. The Japanese Nikkei lost 0.6% overnight. Ten-year sovereign debt yields show big declines of 17 basis points in Italy, 10 bps in France and Spain, 7 bps in the United States and Germany, and six bps in the U.K.. The German ZEW Institute’s June […] More

More Evidence of Softening Euroland Economy

February 19, 2019

Aside from rises of 0.5% against the kiwi, 0.4% versus the Australian dollar and 0.3% relative to the euro, there’s been little net movement in the dollar overnight. Share prices are lower in Asia and Europe. Equities dropped 0.5% in Hong Kong, 0.3% in New Zealand, and 0.2% in Singapore, South Korea, and India. Stocks […] More

Japanese Nikkei Plays Catch-Up after Holiday

September 19, 2017

As Japanese markets reopened following a 3-day holiday weekend, the Nikkei-225 leaped 390 points or 2.0%, moving back up the 20K level. But other stock markets did not follow suit. Equities elsewhere in the Pacific Rim closed down 0.5% in Singapore and Taiwan, 0.3% in Hong Kong, 0.2% in China and 0.1% in Australia, New […] More

Stocks and Commodities Up, Dollar and Bond Yields Down

October 18, 2016

The dollar eased overnight against the currencies of other advanced economies. Losses of 1.1% against the kiwi and 1.0% versus sterling led this move. The dollar also fell 0.7% relative to the Australian dollar, 0.5% versus the loonie, and 0.1% relative to the yen, euro and Swiss franc. The pound was lifted by news that […] More

Weaker Australian and New Zealand Dollars

May 20, 2014

The U.S. currency is 0.7% stronger against the Aussie dollar and up 0.5% relative to the kiwi.  The U.S. dollar otherwise is unchanged against the Swiss franc and Chinese yuan, 0.1% firmer verus the loonie and euro and 0.1% softer against the yen and sterling. Share prices fell 2.4% in Indonesia, 1.1% in Thailand where […] More

Central Bank Surprises in India and Australia

July 16, 2013

Published minutes from the Reserve Bank of Australia reflected a tilt away from additional monetary easing.  At the policy board meeting earlier this month, officials observed that past rate cuts were positively impacting housing and other aspects of the economy and believed that this support had not yet run its course.  Aussie dollar depreciation was […] More

All Eyes on the FOMC

June 18, 2013

Whether, when, and by how much to taper quantitative stimulus is the question of the day, as the FOMC meets on the first day of a 2-day meeting.  Creating even more uncertainty, President Obama while attending the G8 summit indicated that Chairman Bernanke had not originally planned to stay in that post as long as […] More