How much of the war chest has the PBoC depleted?

Sep 03, 2015 17:17 pm UTC| Commentary Central Banks

The PBoC appeared to be heavily active in the spot market after the currency regime change on 11 August in order to stabilize the CNY. Onshore CNY trading volume almost doubled in the 15 trading days following 11 August,...

Draghi takes action with a hint of more

Sep 03, 2015 16:32 pm UTC| Commentary

While the downward revisions of the ECBs September forecasts were broadly in line with expectations, President Draghi sent a somewhat more dovish message than expected, also by raising the issue share limit for sovereign...

Cause and Effect: China and the Fed face off

Sep 03, 2015 16:20 pm UTC| Commentary

The combination of Chinas need to ease monetary policy and the Feds desire to hike rates represents the single greatest source of volatility in financial markets for the rest of the year. Notwithstanding repeated liquidity...

U.S. Trade Balance (July 2015)

Sep 03, 2015 16:13 pm UTC| Commentary

The U.S. trade deficit fell to a five-month low of $41.9 billion in July, close to the norm of the past three years. Plunging oil prices cut into imports (-1.1%), but volumes also fell on a surprising (and likely...

Canada merchandise trade (July)

Sep 03, 2015 16:07 pm UTC| Commentary

Canadas merchandise trade deficit unexpectedly narrowed to $593 mln in July from an upwardly revised $811 mln gap in the prior month. Exports rose 2.3%, with the increases focused on non-energy sectors. There were big...

ECB slashes inflation forecast, ready to expand QE

Sep 03, 2015 15:49 pm UTC| Commentary

The ECB sharply lowered its inflation forecasts for 2015-2017 today and warned that it stands ready to act should downside risks to growth and inflation materialise from recent events i.e. the slowdown in emerging markets...

ECB leaves door wide open for more QE

Sep 03, 2015 15:37 pm UTC| Commentary

The ECB in its regular monetary policy meeting kept policy rates unchanged but decided to modify an important parameter in the asset purchase programme. Specifically, the GC increased the issue share limit from 25% to 33%...