Fed Rate Cut Hopes and Several Economic Data Releases December 4, 2024 By a three to one margin, financial markets anticipate a 25-basis point interest rate cut from the Fed later this month, compared to a minority view that officials may choose not to ease at this time. Several U.S. data releases occurred this Friday:…
South Korean Won Seizes Foreign Exchange Market Spotlight December 3, 2024 The U.S. dollar jumped 2.4% overnight against the South Korean won after President Yoon Suk Yeol, whose term began in May 2022, declared martial law in the face of an increasingly dysfunctional legislature and the threat of his own impeachment. At today’s low of…
Rhetorical Trade War, Teetering Foreign Governments, and Manufacturing Purchasing Manager Surveys Headline Today’s Financial Market News December 2, 2024 Amid repeated U.S.-led economic sanctions in response to geopolitical mischief, the block of countries known by the acronym BRICS (standing for Brazil, Russia, India, China and Saudi Arabia) are considering steps toward a new currency in…
This Week’s Menu: November 30-December 6,2024 November 30, 2024 Central Banks: Interest rate policies to be reviewed in India and Poland. Fed’s Beige Book of regional U.S. economic conditions will be published. Fed officials with speaking engagements in the period include Governor Waller, St. Louis District President Musalem, Richmond District President Barkin, NY District President…
November 2024 in Figures November 30, 2024 Long-term interest rates fell during November in many economies with the conspicuous exception of Japan. Central bank policy rates were reduced by 25 basis points in the United States, Great Britain, South Korea, South Africa, Mexico, Peru, Czech Republic, Dominican Republic, and Colombia and by 50 basis points…
Bank of Korea November 28, 2024 The Bank of Korea’s base rate was cut 25 basis points for the second time in two months, a move that watchers of South Korean monetary policy were not anticipating. At 3.0% the rate is its lowest in two years but still comfortably above the latest CPI inflation measurement,…
Thanksgiving Day Roundup November 28, 2024 While Americans observed their Thursday Thanksgiving holiday, the dollar strengthened 0.1-0.3% against the euro, yen, Swiss franc, sterling and Australian and New Zealand dollars but also retreated 1% against the Mexican peso. Stock markets in the Pacific Rim dropped 1.5% in India and New Zealand, 1.2% in Hong Kong,…
Stronger Dollar After Weak European Preliminary November Purchasing Managers Survey November 22, 2024 The dollar was already experiencing a post-U.S. election flight-to-safety rally. Elections have a propensity to introduce uncertainty. With other branches of the government on his side, President-Elect Trump plans several policy changes that will make economic life more difficult in other countries….
South Africa’s Second Central Bank Rate Cut Size of 25 Basis Points Matched Expectations November 21, 2024 The South African Reserve Bank policy interest rate was cut today to a 19-month low of 7.75%. A peak of 8.25% was maintained for 16 months from May 2023 until an initial reduction of 25 basis points at…
Russia’s War Takes a Provocative Step, and Crypto Experiences Another Strong Session November 21, 2024 Geopolitical tensions dominated overnight financial market trading. Data flow has been light, but still ahead are several U.S. releases plus the outcomes of monetary policy reviews in Turkey and South Africa. For the first time since Russia invaded Ukraine nearly…