U.S. Personal Consumption Report and Many European Data Releases March 28, 2025 Shortly before the release of U.S. personal income, PCE and the PCE price deflator this Friday morning, the dollar was showing overnight advances of 0.3% against the euro and peso, 0.2% versus the the Swiss franc and sterling, and 0.1% relative to the…
U.S. Pivots Back to Tariff Threats, Sending Equity Markets Lower in Europe and Much of Asia March 27, 2025 Share prices on Thursday fell 1.4% in Taiwan and South Korea, 0.6% in Japan, and 0.4% in Australia, and European stock markets so far show losses of 04-0.8% in Germany, France, the U.K. and Italy. In…
Tentative Black Sea Ceasefire, Lower-Than-Forecast British Inflation & Chancellor Reeves to Augment Spending Cuts March 26, 2025 A tentative U.S.-brokered deal to end Black Sea combat and attacks on energy infrastructure has been announced between Ukraine and Russia, provided the U.S. reduces economic sanctions against Putin’s state. British Chancellor of the Exchequer Reeves is now…
Markets Await Fresh Cues March 25, 2025 The weighted DXY dollar index hasn’t extended yesterday’s rise to a 2-week high but hasn’t fallen far back either, with overnight losses of 0.3% against the euro, 0.2% versus the yen and Aussie dollar and 0.1% relative to sterling and the Mexican peso but 0.1% upticks versus the…
Little Resolution to a Variety of Uncertainties Afflicting Investor Decisions March 24, 2025 (199) The dollar hardly moved against most other major currencies, sliding 0.2% against the Swiss franc, Mexican peso, Australian dollar and sterling, holding flat versus the Canadian dollar, but rising 0.2% relative to the South Korean won and New Zealand dollar. Bigger…
Next Week’s Menu: March 22-28, 2025 March 21, 2025 Central Banks: Interest rate policies will be reviewed in Mexico, Hungary, Norway and the Czech Republic. Minutes from previous policy meetings are to be published for Brazil, Canada and Japan. Governor Bailey of the Bank of England will speak publicly. Special Event: British Exchequer of the…
Dollar, U.S. Stock Futures, 10-Year Treasury Yield and Prices of Oil and Bitcoin Down Marginally as Another Frenzied Week Winds Down March 21, 2025 Market Movements Overnight: The weighted DXY dollar index edged 0.1% lower overnight, with dips of 0.2% against the Swiss franc but no change versus the yen or euro. In pre-open futures…
A Central Bank Interest Rate Hike in Uzbekistan but a Cut in Switzerland March 20, 2025 Uzbekistan is a different case altogether, and its circumstances call for progressive tightening. Officials at the Central Bank of Uzbekistan today raised their policy rate by half a percentage point back to 14.0%, matching a level that prevailed from…
Central Bank Roll Call March 20, 2025 The immediate sigh of relief by market participants — expressed in higher share prices and a retreat of the 10-year Treasury yield — to yesterday’s Federal Reserve show quickly wore off during overnight hours. Less emphasis has been attached to the unchanged Fed signal of likely two interest…
Third Central Bank of Brazil Rate Hike of Full Percentage Point Since December March 19, 2025 The Brazilian Selic interest rate was lifted at today’s scheduled review to 14.25% from 13.25%. This third such increase within four consecutive meetings of COPOM establishes the highest level since October 2016 and 375 basis points above the 10.5%…