Moment of truth for PBoC’s reserve sales

Sep 07, 2015 06:07 am UTC| Commentary Central Banks

Chinas FX reserves dropped by $150bn in August, from $3.65trn to $3.5trn, vs a $50bn decline in July. However, the possible range for the decline in reserves could be quite wide, from $100bn-$300bn. Given there was a...

ECB to extend QE beyond September 2016

Sep 07, 2015 05:23 am UTC| Commentary Central Banks

The FX market is likely to continue to contemplate further ECB QE, given recent Chinese growth concerns and falls in market-based measures of euro area inflation expectations. The ECB is expected to announce before...

RBNZ to cut rate again

Sep 07, 2015 04:56 am UTC| Commentary Central Banks

The RBNZ is expected to lower its growth forecasts in the accompanying Monetary Policy Statement and foreshadow a further rate cut in its profile for the short-term interest rate. The RBNZ is likely to cut the cash rate...

FxWirePro: Kiwi extends weakness, awaits crucial China data & RBNZ

Sep 07, 2015 04:48 am UTC| Technicals Central Banks

New Zealand dollar struggled for traction early in the Asian session, having skidded nearly 3 percent last week. NZD/USD was rejected at 0.6300 levels and fell further, currently languishing near multi-year troughs...

BCB Minutes to confirm long pause

Sep 07, 2015 04:04 am UTC| Commentary Central Banks

In an environment where economic activity continues collapsing and the political commitment to push the necessary structural reforms is nonexistent at this point,this trend is not over. Although the BRL has...

Russia's CBR to remain on hold

Sep 07, 2015 03:55 am UTC| Commentary Central Banks

In Russia, clearly, the CBR is facing a dilemma with growth remaining depressed, and the downtrend in inflation has recently stalled. Inflation has slightly increased in August to 15.8% y/y, driven by rising goods and...

Fed wants to hike because the Fed wants to hike

Sep 07, 2015 01:44 am UTC| Commentary Central Banks

Private sector payrolls are back at 140k, core PCE inflation has dropped to 1.2% YoY, growth in the first two quarters of the year has averaged 2.1% (QoQ, saar), core capex expenditures havent grown one iota in 3.5 years....