* This article was originally published here
Thursday, April 30, 2020
April 2020 in Figures
Imposed business shutdowns around the world in March had severely rattled financial market confidence, sending share prices sharply lower and the dollar significantly upward. The feared negative impact on economic data was visibly confirmed during April, but forward-looking investors found hope in the policy response of low interest rates and fiscal support. Although long-term interest […]
* This article was originally published here
* This article was originally published here
Handicapping the Dollar Outlook in a Pandemic-Preoccupied Era
Projecting the dollar’s value has always been very challenging and humbling. Economic trend forecasting is hard enough, and anticipating the reaction of financial markets to different economic scenarios introduces a whole new level of uncertainty to the exercise. Market watchers this year have been dealing with a third broad complication and the most vexing of […]
* This article was originally published here
* This article was originally published here
No Fireworks from ECB this Time
At a scheduled meeting of the European Central Bank Governing Council, officials left key interest rate unchanged (a 0.0% refinancing rate flanked by a -0.5% deposit rate and a 0.25% marginal lending rate). Quantitative stimulus (asset purchases) was not enhanced beyond last month’s parameters. Terms were relaxed on some lending operations, and a new series […]
* This article was originally published here
* This article was originally published here
Pound South African Rand (GBP/ZAR) Exchange Rate Rises as No 10 Reluctant to ‘Gamble Away’ Covid-19 Success
GBP/ZAR Exchange Rate Edges Higher on UK Lockdown Easing Plans
The Pound to South African Rand (GBP/ZAR) exchange rate rose by 1% today after the British Government said it would not ‘gamble away’ success by prematurely easing its lockdown measures. The pairing is currently trading around R22.856.
A spokesman for...
* This article was originally published here
* This article was originally published here
ECB Monetary Policy Review and Some Atrocious Economic Data
At a scheduled meeting of the European Central Bank Governing Council, officials left key interest rate unchanged (a 0.0% refinancing rate flanked by a -0.5% deposit rate and a 0.25% marginal lending rate). Quantitative stimulus (asset purchases) was not enhanced beyond last month’s parameters. Terms were relaxed on some lending operations, and a new series […]
* This article was originally published here
* This article was originally published here
Wednesday, April 29, 2020
FOMC Statement
No surprises can be found in today’s just released statement. The federal funds target range was left at 0-0.25% with guidance reaffirmed that “the Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.” […]
* This article was originally published here
* This article was originally published here
FOMC Preview
The last scheduled Federal Open Market Committee meeting was held three months ago. A scheduled meeting on March 17-18 was cancelled following back-to-back unscheduled meetings on March 3rd and March 13th. Since the January 29th FOMC statement, the dollar has strengthened 1.4% against the euro but weakened 2.3% relative to the yen. The 10-year Treasury […]
* This article was originally published here
* This article was originally published here
Pound to Swedish Krona (GBP/SEK) Exchange Rate Steady as NIER Predicts 7% Drop in Swedish Economy
GBP/SEK Exchange Rate Rangebound as Sweden’s Economy ‘Worse Than Expected’
The Pound to Swedish Krona (GBP/SEK) exchange rate held steady today after the Swedish think tank, National Institute for Economic Research (NIER), predicted a -7% decrease in the nation’s economy in 2020. The pairing is currently trading...
* This article was originally published here
* This article was originally published here
Lots of Data and an FOMC Meeting to Digest
Even with Japanese markets shut for the first of several “Golden Week” holidays, today is a very active day. Euroland economic sentiment, U.S. GDP, and several price statistics head a long list of data releases. Also, the FOMC will announce the conclusions of a scheduled review of monetary policy, which will be followed by a […]
* This article was originally published here
* This article was originally published here
Hopes for Increased Oil Demand Sends the Pound Canadian Dollar (GBP/CAD) Exchange Rate Lower
Pound Sterling Canadian Dollar (GBP/CAD) Exchange Rate Falls as Oil Prices Edge Higher
The Pound Sterling Canadian Dollar (GBP/CAD) exchange rate slumped by -0.6% today, leaving the pairing trading at around CA$1.7285.
The oil-sensitive ‘Loonie’ made gains against the Pound today after oil prices gained on...
* This article was originally published here
* This article was originally published here
Tuesday, April 28, 2020
Pound South African Rand (GBP/ZAR) Exchange Rate Falls Ahead of Wednesday’s Fed Meeting
Pound Sterling South African Rand (GBP/ZAR) Exchange Rate Slumps Ahead of Fed Meeting
The Pound Sterling South African Rand (GBP/ZAR) exchange rate slumped by around -0.5% this afternoon, leaving the pairing trading at around R23.2351.
The South African Rand was able to edge higher against the Pound despite...
* This article was originally published here
* This article was originally published here
Dollar and Oil Price Down but Stock Markets Mostly Up
The dollar fell broadly overnight, with the biggest declines coming against the Mexican peso (1.5%), Norwegian krone (1.4%), and Swedish krona (1.2%). (The Swedish Riksbank released a dovish statement, but the Executive Board did not cut the zero percent repo rate as some had been expecting). The dollar also dropped by 0.6% relative to the […]
* This article was originally published here
* This article was originally published here