Dollar Opens an Important Week on a Rising Note July 28, 2025 (181) The dollar strengthened overnight by 0.6% on a weighted basis and against the Mexican peso and Australian currency, as well as 0.8% relative to the euro and Swiss franc, 0.5% versus the Japanese yen, 0.7% vis-a-vis the New Zealand dollar, and 0.2%…
Next Week’s Menu: July 26-August 1, 2025 July 25, 2025 Central Banks: Monetary policy reviews are scheduled at the Federal Reserve and in Japan, Great Britain, Brazil, Kyrgyzstan and Georgia. Fed Chairman Powell, Bank of England Governor Bailey, and BOJ Governor Ueda hold press conferences. The Bank of England’s quarterly Monetary Policy Report gets published….
A Second Russian Central Bank Rate Cut July 25, 2025 Whereas Ukraine’s central bank rate was left unchanged yesterday at 15.5%, the Central Bank of Russia today cut its key rate by 200 basis points to 18.0% as had been expected. Monetary officials there explained, “current inflationary pressures, including underlying ones, are declining faster than…
Dollar and 10-Year Sovereign Debt Yields a Bit Higher, But Bitcoin and Gold Prices Slip July 25, 2025 The weighted DXY dollar index climbed 0.4% overnight, lifted by a 0.5% advance against the yen and sterling but a smaller dollar gain of 0.2% relative to the euro and Swiss franc. The dollar rose 0.4% against…
Big Rate Cut at the Central Bank of Turkey July 24, 2025 Today’s three percentage point cut in the Central Bank of Turkey‘s interest rate to 43.0% exceeded analyst expectations somewhat and almost reversed the entire 350-basis point hike done in April. Turkish CPI inflation of 35% last month was at a 43-month low and…
Central Banks and Preliminary July Purchasing Manager Surveys Share the Spotlight Today July 24, 2025 U.S. President Trump and his entourage will tour the controversial Federal Reserve Board renovation site in Washington today in a confrontation sure to deliver a further blow to America’s claim to keeping monetary policy free from political interference. Announced central…
Azerbaijani Interest Rate Cut July 23, 2025 At the Central Bank of Azerbaijan, officials lowered their refinancing rate by 25 basis points today to 7.0%. This cut was the first one made since May 2024 and brings the cumulative decline from a 9.0% peak in 2023 to two full percentage points. In resuming the rate…
U.S.-Japan and Other Trade Deals but Also Confusion and Worry about Dollar’s Trend July 23, 2025 Some good developments on the tariff front emerged in the past 24 hours, namely a trade deal between the United States and Japan that puts the U.S. tariff on Japanese imports at 15% instead of the 25% levy threatened…
Currencies Marking Time and Scant Progress Reported on Trade Deal-Making Front July 22, 2025 The clock is winding down to the August 1st imposition of higher U.S. tariffs, and hopes for a slew of last-minute trade deals to modify the planned levy amounts are slipping away. In any case, four potentially important events are lined…
Pursuing Other Plans that Don’t Involve America July 21, 2025 (182) Much has changed in the world during the first half of Donald Trump’s second non-consecutive term as president of the United States. As the August 1st tariff hike deadline looms closer, several sets of frenzied efforts to reach trade deals with the U.S. continue,…