Weidmann
ECB Hidden Agenda: Weaker Euro
November 6, 2014
The ECB didn’t change its three interest rates. The refinancing rate of 0.05% has been flanked by a marginal lending rate of 0.3% and a deposit rate of -0.20%. Each was cut by 10 basis points in September. Draghi’s main message, emphasized in his press conference, is that the ECB balance sheet will be expanding […] More
Markets Closed for Holiday in Japan, the United States and Canada
October 13, 2014
After last week’s swoon, financial market volume on Monday will be suppressed by three market closures, Japan for Health and Sports Day, the U.S. for Columbus Day, and Canada for Thanksgiving. Stocks in the Pacific Basin closed down 2.8% in Taiwan, 1.1% in New Zealand, 1.0% in Indonesia, 0.7% in Singapore and South Korea, 0.6% […] More
Awaiting U.S. Retail Sales, Consumer Price Data, and FOMC Minutes
November 20, 2013
After predictably dovish remarks from Ben Bernanke, the soon-to-be ex-Fed Chairman, the dollar has ticked down 0.2% against the euro, Swiss franc, Australian dollar and sterling. The yen is unchanged following report of another large trade deficit, and the kiwi has risen 0.2% after higher-than-expected New Zealand producer price figures. The yuan is also unchanged […] More
Festering Concerns about a Chinese Credit Crunch, European Banks, and Fed Tapering
June 24, 2013
Another steep drop in Asian and European share prices opened the final week before mid-2013. Equities plunged 6.1% in China, 3.4% in the Philippines, 2.2% in Hong Kong, 1.9% in Indonesia, 1.6% in Singapore, 1.5% in Australia, 1.3% in Japan, South Korea and India, and 1.0% in Malaysia. Stocks are down so far by 1.1% […] More
Dollar Down ahead of Bernanke’s Jackson Hole Speech
August 31, 2012
The dollar has declined by 0.8% against the euro, which hit an 8-week high of $1.2629. The dollar also has fallen 0.8% against the Swiss franc, as well as 0.6% versus the loonie, 0.5% relative to sterling, 0.4% against the Aussie and New Zealand dollars, and even 0.3% against the yen. Investors hope to hear […] More
