Dollar and U.S. 10-Year Treasury Fall at the Start of This Momentous Week November 4, 2024 The weighted DXY dollar index fell 0.6% overnight to a two-week low. That’s an atypically large daily move by recent standards. The outlook of tomorrow’s U.S. presidential and congressional election remains highly uncertain, with candidates projecting wholly divergent visions…
Next Week’s Menu: November 2-8, 2024 November 1, 2024 Central Banks: Monetary policies to be reviewed at the Fed and by central banks in Brazil, the U.K., Poland, Sweden, Norway, Romania, the Czech Republic, and Malaysia. Fed Chairman Powell and BOE Governor Bailey hold press conference, and the ECB publishes minutes of its last meeting….
October 2024 in Figures November 1, 2024 The dollar made broad gains against other currencies during October. Equity markets experienced mixed results during the period. Long-term interest rate rises varied in size, and the European Central Bank, which lowered its deposit rate by 25 basis points, was the only monetary authority featured in the table…
This Week’s Menu: October 26- November 1, 2024 October 26, 2024 Central Banks: The Bank of Japan heads a list that also includes central banks in Armenia, Kyrgyzstan, Bulgaria, Colombia, Sri Lanka and Ukraine that are scheduled to review interest rate policy. BOJ Governor Ueda holds a press conference afterward, and the quarterly Outlook for…
Russian Interest Rate Hike October 25, 2024 Officials at the Central Bank of Russia had been thought likely to hike their policy interest rate by another percentage point at this month’s scheduled review but surprised analysts by increasing such to 21.0% from 19.0%. The new rate is its highest in just over two decades and…
Flat Dollar, Equities Mixed, Many Data Releases, and a Larger-than-Forecast Russian Interest Rate Hike October 25, 2024 Major dollar relationships show minimal net movement from Thursday closings. Equity markets fell 0.6% in Japan, 0.8% in India and New Zealand and Spain so far, but advanced by 0.7% in Taiwan, 0.6% in China, 0.5% in Hong…
Election Jitters in the United States and Japan October 24, 2024 Japanese voters go to the polls this Sunday to choose all 465 members of parliament’s lower house. This earlier-than-required general election was called by Prime Minister Ishiba after he was the LDP party election to replace former PM Kishida, who had stepped down. It’s…
Bank of Canada’s Overnight Rate Slashed 50 Basis Points to 3.75% October 23, 2024 The overnight interest rate, which had been held at a peak 5.0% from July 2023 until this past June, was cut today by the Bank of Canada’s Governing Council by 50 basis basis points. This doubled the ante of 25 basis…
Dollar Strengthens to Near 12-Week High October 23, 2024 The morning after the U.S. election is just two weeks away, and investors are betting that the winner of the presidential vote will not be apparent then or possibly for a week or more afterward. What financial markets are counting on is that the next FOMC…
Little Doubt that ECB Will Be Cutting its Interest Rate Today. Also Awaiting Turkish Central Bank Decision and Several U.S. Data Releases October 17, 2024 Consumer price inflation in the euro area last month was just revised downward by a tenth of a percentage point to a 41-month low of 1.7%. That’s below target and…