President of the Federal Reserve Bank of Minneapolis, Neel Kashkari: – Have not seen wage growth nationally – likely still some slack in labor mkt – immigration has benefitted the US tremendously
The Hong Kong Monetary Authority (HKMA) have intervened in the HKD market – Bought HKD 2.44bn to defend the peg – First time HKMA have done so since 2005 The HKD had fallen to the low end of its permitted trading band, where the central bank (HKMA is HK’s central bank) has said it would take…
Coeure in Paris – Potential growth has not fallen by as much as we thought, it may imply that neutral rate of interest might be higher than is commonly estimated Nothing there that’s going to move the euro.
April 12, 2018
Unanimous decision The USDMXN remains below the 100 week MA at 18.92651. The pair has been testing the 38.2% of the move up from the 2013 high at18.17502, but above the 2017 and 2016 lows at 17.4461 and 17.0472 respectively.
Bank of Korea governor Lee Ju-yeol comments after the central bank’s meeting The Bank of Korea announced its monetary policy decision for this month where they kept rates steady at 1.50%. But they trimmed their inflation forecast to 1.6% from the previous 1.7% projection.
More comments by the BOJ regional branches Earlier in the day, the BOJ’s Osaka branch region manager also something similar – although he sounded less worried on firms’ profitability.
BOJ Osaka branch manager Kimihiro Etoh with some comments Well, his views here are speaking to that of one region only. But in general, a strengthening Japanese yen over the last two years surely would not have helped exporters all too much. It is quite unlikely that majority of the firms would have been able…
He mostly touched on the coordination between the BOE’s monetary and financial policy committees Not much else of note from his speech. Let’s move on.
ECB Minutes from last policy meeting now out 12 April – caution voiced over EUR moves – past EUR appreciation has not had significant impact on demand – broadly agreed not enough evidence that inflation is sustained EUR pairs suitably unfazed but EURGBP still below 0.8700 after earlier sell order (according to good sources) that…