Tag Archives: Bank of Japan

Swiss Franc The Euro has fallen by 0.42% to 1.0579 EUR/CHF and USD/CHF, May 22(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The US has ratcheted up pressure on China on several fronts and has sapped risk appetites ahead of the weekend.  Equity markets are lower across the world.  Even in India, where the central bank unexpectedly cut the repo rate 40 bp, shares fell 0.7%. It was Hong Kong’s 5.5% that led the...

After years of futility, he was sure of the answer. The Bank of Japan had spent the better part of the roaring nineties fighting against itself as much as the bubble which had burst at the outset of the decade. Letting fiscal authorities rule the day, Japan’s central bank had largely sat back introducing what it said was stimulus in the form of lower and lower rates. No, stupid, declared Milton Friedman. Lower rates don’t mean stimulus they mean monetary policy has...

Swiss Franc The Euro has fallen by 0.01% to 1.0541 EUR/CHF and USD/CHF, March 16(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The Federal Reserve and central banks in the Asia Pacific region acted forcefully, but were unable to ease the consternation of investors. The Reserve Bank of New Zealand cut key rates by 75 bp. The Bank of Japan appears to have doubled its ETF purchase target to JPY12 trillion, and...

Can we please dispense with all notions that monetary policy works? Specifically balance sheet expansion via any scale asset purchase programs. Nowhere has that been more apparent than Japan. Go back and reread all the promised benefits from BoJ’s Big Bang QQE that were confidently written in 2013. The biggest bazooka ever conceived has fallen short in every conceivable way. Starting with the fact QQE remains ongoing approaching its seventh birthday. Over here in...

Swiss Franc The Euro has risen by 0.09% to 1.0597 EUR/CHF and USD/CHF, March 10(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: It appears after a few days of miscues, US officials struck the right chord, and the global capital markets seemed to stabilize shortly after the US session ended. President Trump’s press conference today is expected to spell out in greater detail relief for households and businesses....

Swiss Franc The Euro has risen by 0.05% to 1.0737 EUR/CHF and USD/CHF, January 20(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The new week is off to a quiet start as the US celebrates Martin Luther King’s birthday, and investors look for a fresh focus. Hong Kong and Indian markets were suffered modest declines while most of the other large Asia Pacific markets edged higher. European stocks are trading a...

The US dominated the news stream at the start of 2020. The spasm in the US-Iran confrontation has quickly subsided. The much-heralded US-China Phase 1 trade deal has been signed. The US has completed the ratification process of the US Mexico Canada Free-Trade Agreement. The early signs from the economic entrails suggest the world’s largest economy continue to enjoy a record-long, even if not robust, expansion. The focus shifts elsewhere in the week ahead,...

Swiss Franc The Euro has risen by 0.01% to 1.0893 EUR/CHF and USD/CHF, December 19(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: It is risky to read too much into the price action in holiday-thin markets, but inflation fears are beginning to surface. The price of January WTI is around $61, having tested $50 a barrel in Q3. The CRB Index made new highs for the year yesterday and is up almost 9% for the year....

After last week’s flurry of events, market activity is set to slow over the next three weeks. But what a flurry of events it was. A new NAFTA apparently has been agreed, and it is set to be approved by the US House of Representatives next week and the Senate early next year. The US and China struck an agreement that will get rid of the immediate tariff threat and unwind half of the punitive tariffs in exchange for a commitment to buy twice the amount of agriculture...

Swiss Franc The Euro has fallen by 0.32% to 1.0993 EUR/CHF and USD/CHF, October 31(see more posts on EUR/CHF, USD/CHF, ) Source: markets.ft.com - Click to enlarge FX Rates Overview: The equity and bond rally in North America yesterday carried over into today’s session. With some notable exceptions, like China, Taiwan, Australia, and Indonesia, most bourses in Asia Pacific and Europe traded higher. US shares are little changed in early Europe after the S&P...