Day Before Christmas and Not Much to Report December 24, 2024 Compared to Monday closing levels, the dollar is unchanged against the euro, yen, and sterling. The greenback is up 0.3% relative to the Australian dollar and by 0.2% versus the Canadian dollar and Swiss franc but shows a 0.4% loss relative to the Mexican…
Jamaican Central Bank Interest Rate Cut December 23, 2024 The latest central bank to announce the result of its last monetary policy review of 2024 is the Bank of Jamaica. Officials there reduced the interest rate by 25 basis points to 6.0%. This was the fourth such cut since August. The rate previously had been…
The Start of Christmas Week Finds Dollar Atypically Well-Bid December 23, 2024 More years than not since the onset of flexible dollar rates, the U.S. currency has exhibited a soft tendency in late December. This seasonal bias was especially pronounced early on, as the dollar fell against the Deutsche mark between mid-December and yearend 13…
Next Week’s Menu: December 21-28, 2024 December 20, 2024 Central Banks: Interest rate policy reviews are scheduled in Turkey and Egypt, and minutes from previous central bank policy meetings in Australia, Japan and Canada will be published. Holidays and Special Events: The distraction of end-of-year holidays to business and financial market activity is arguably maximized…
Mexican Central Bank Rate Cut December 20, 2024 The Bank of Mexico’s policy interest rate has been reduced by another 25 basis points to 10.0%. This was the fourth such cut since August and the fifth one since March. The rate had been at a peak of 11.25% for a year prior to that initial…
A Few More Central Bank Decisions, A Lot More Price Data, and A Possible U.S. Government Shutdown Is Looking More Likely December 20, 2024 The U.S. dollar fell overnight by 0.4% against the Japanese yen, Swiss franc, and British pound. Smaller dips of 0.2% and 0.1% happened versus the euro and Canadian dollar, while bigger…
Next Week’s Menu: December 14-20, 2024 December 13, 2024 Central Banks: Monetary policies will be reviewed at the Federal Reserve and in Indonesia, Hungary, Georgia, Great Britain, Thailand, Japan, Mexico, Norway, Sweden, Taiwan, the Philippines, Russia and China. The Fed, which is expected to cut its interest, will unveil updated macroeconomic forecasts. Chairman Powell, Bank…
Mid-Friday Briefing December 13, 2024 Compared to Thursday closing levels, ten-year sovereign debt yields have risen five basis points in the United States, Germany, Spain and U.K., four bps in Italy, and six bps in France. In spite of higher November CPI, PPI and import price inflation, the Federal Reserve is widely expected to cut…
Rate Cuts in Euroland and Switzerland December 12, 2024 A 25-basis point cut in Euroland’s key interest rates including the deposit rate to 3.0% had been widely expected by investors. The European Central Bank statement includes updated macroeconomic forecasts that lower projected GDP growth to 0.7% this year and 1.1% next year as well as…
Rate Hikes in Brazil and Ukraine December 12, 2024 The Central Bank of Brazil’s Selic interest rate was lifted by a greater-than-predicted full percentage point to a one-year high of 12.25%. This more forceful move than previous interest rates totaling 75 bps in September and November, according to a released statement from officials was necessitated…