CurrencyThoughts
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CurrencyThoughts is a stand-alone independent advisory service that integrates all global financial markets and the macroeconomic trends that make them tick. Larry Greenberg, a veteran currency economist brings forex news from many places all over the world, and in-depth analysis of current events.
CurrencyThoughts
49m ago
Central Banks: Monetary policies will be reviewed by the Federal Reserve and central banks in Japan, the U.K., the Czech Republic, Georgia, Armenia, Brazil, Colombia, and Chile. The Bank of Japan’s quarterly Outlook for Economic Activity and Prices will be published, and Fed Chairman Powell, Bank of England Governor Bailey, and Bank of Japan Governor ..read more
CurrencyThoughts
9h ago
Recent equity losses were trimmed ahead of the U.S. open in a bout of bottom-fishing. Share prices closed up 0.9% in Indonesia and 0.8% in South Korea and Taiwan. U.S. stock futures and equity futures in Germany, the U.K. and France are up, too. But Taiwan, which had been closed, saw a slump of 3.3 ..read more
CurrencyThoughts
16h ago
The Central Bank of Uzbekistan’s policy interest rate was cut today to 13.5% from 14.0%, where such had been since March 2023. The new rate level is its lowest level since mid-2017. A three-percentage point rate hike in March 2o22 after the invasion of Ukraine by Russia had been followed by one-percentage point cuts in ..read more
CurrencyThoughts
16h ago
A 2.8% annualized quarter-on-quarter U.S. growth rate in April-June was twice the pace in the prior quarter and beat analyst expectation by three-quarters of a percentage point. Positive contributions to GDP growth were made by personal consumption (1.6 percentage points ppts) and non-residential business investment (0.7 ppts),and inventory growth more than offset the 0.7 ppt ..read more
CurrencyThoughts
2d ago
The Federal Reserve and Bank of Canada each began a cycle of interest rate hikes in March 2022 from a base of 0.25%. Those cycles ended in the United States in June 2023 at 5.5% and in Canada one month later at 5.0%. An initial reduction has not happened yet in the United States, although ..read more
CurrencyThoughts
2d ago
A central bank surprise occurred in Sri Lanka where an unexpected 25-basis point interest rate reduction was announced after a scheduled policy review. At 8.25%, the new rate level is its lowest since April 2022 and down from 15.5% maintained from March 2023 until an initial cut in June 2023. Consumer price inflation in Sri ..read more
CurrencyThoughts
2d ago
The dollar fell 0.7% overnight against the yen and 0.4% versus the Swiss franc. Alternatively, the greenback rose by 0.4% relative to the Mexican peso, 0.3% relative to the kiwi, 0.2% against the Australian dollar and 0.1% versus the euro. Pacific Rim stock markets closed down 1.1% in Japan, 0.9% in Hong Kong, 0.6% in ..read more
CurrencyThoughts
3d ago
Consumer price inflation in Hungary crested at 25.7% in January 2023, well above the 2-4% target of its central bank (MNB). In response the MNB base rate was progressively raised from 0.60% to a peak of 13.0% reached in September 2022 and maintained until an initial reduction in October 2023. Every monthly meeting since that ..read more
CurrencyThoughts
3d ago
U.S. Vice President Harris made great strides yesterday to solidify her claim to the Democratic Party presidential nomination, locking up many endorsements and attracting an unprecedented daily haul of campaign contributions. Investors now await next opinion polls. There had been much anticipation prior to last week’s Chinese Plenum that a huge fiscal stimulus would be ..read more
CurrencyThoughts
4d ago
The dollar fell 0.5% overnight against the Japanese yen and rose 0.4% relative to the Australian dollar, but other key dollar relationships held much steadier. EUR/USD is unchanged. The Mexican peso likewise hasn’t moved. The dollar slid 0.2% against sterling and 0.1% relative to the Swiss franc but rose 0.1% vis-a-vis the Canadian currency. Stock ..read more