Comments from the BOC deputy: These comments are along the same lines as something I wrote yesterday:
Blogs
Fed's Mester: It will take another year or two to get economy back to pre-pandemic
Comments from Mester in a virtual discussion on the economy I appreciated Bostic's comment yesterday saying there is no a lot of historical precedent to predict post-virus economy. That's a bit more honest. On the other other hand, you could argue the Fed's mandate is to project confidence and boost confidence.
BOE's Bailey says BOE didn't discuss negative rates and yield curve control
Comments from the Bailey This fits with the earlier stance of being more-optimistic but the market is brushing it off and selling the pound hard. There was initially a pop on these headlines but only momentarily.
Full statement of the BOE June monetary policy meeting
The monetary policy summary from the Bank of England – 18 June 2020 The Bank of England's Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. In that context, its challenge at present is to respond to the severe economic […]
BOE leaves bank rate unchanged at 0.10%, expands QE program by £100 billion
BOE announces its latest monetary policy decision – 18 June 2020 – 0.10% – Bank rate votes 0-0-9 vs 0-0-9 expected – Asset purchase program total £745 billion (increase of £100 billion)
SNB says it has a very good dialogue with the US Treasury
Just in case one is worried about a certain currency manipulator list
SNB's Jordan: There is no specific limit for currency interventions
Further comments by SNB chief, Thomas Jordan – It is extremely important we continue with expansive policy – SNB always conducts cost-benefit analysis before intervening As long as the franc threatens to keep pushing higher, you can expect the SNB to keep their powder dry and intervene in the market as necessary. The 1.05 level [&hellip
What's the use of copper in market analysis?
Copper Looking to use intermarket analysis? to learn more. Checkout ForexSource.co
Canada ADP employment rose 208.4k, early signs of a rebound
<p>Canada ADP private employment rose 208.4k in May. Goods producing industries added 13.3k jobs. Service-providing industries added 195.2k jobs. “The job market appeared to show early signs of a rebound in May as restrictions eased and many began to return to work,” said Ahu Yildirmaz, vice president and co-head of the ADP Resear
Philly Fed manufacturing outlook turned positive to 27.5, future activity hit 30-year high
<p>Philadelphia Fed Manufacturing Business Outlook rose notably to 27.5 in June, up from -43.1. That’s also the first positive reading since February. Future activity index rose 17pts to 66.3, hitting the highest level in nearly 30 years. New orders (16.7), and shipments (25.3) returned to positive territory after negative readings over