Cliff Notes: The political effect is felt

Cliff Notes: The political effect is felt

Key takeaways from last week. Australia’s GDP surprised by a decline in the 3rd quarter, printing 0.2% (2.1% annually). Compared to expectations, the main disappointment in the quarter was consumer spending, which was flat in Q3 after rising just 0.1% in Q2. Per capita consumption growth is in the region of -2.0% per annum, second … Read more

The kyat depreciates further after Myanmar’s central bank abandoned the dollar forex peg

The kyat fell further against the US dollar after the junta-controlled Central Bank of Myanmar (CBM) announced it would no longer set rates on its online foreign exchange trading platform. The online trading program was launched in June to facilitate interbank and customer dollar transactions. At the time, CBM insisted that the program operated at … Read more

FOREX-Dollar steady, euro soft as traders bet on rate cuts to start in Q1

(Updated at 09:09 GMT) By Samuel Indyk and Ankur Banerjee LONDON, Dec 6 (Reuters) – The dollar held near a two-week high on Wednesday, while the euro was broadly weak as markets raised bets that the European Central Bank will cut interest rates as early as March. The euro fell 0.1% to $1.0783 against the … Read more

Decoding the decline and rise of India’s forex reserves

As of July 14, India’s foreign exchange (forex) reserves stood at $609 billion. They hit a recent low of $583.5 billion on October 20 before rising slightly again to $597.9 billion on November 24. What explains this yo-yo behavior? Mint examines the ups and downs of the rupee: As of July 14, India’s foreign exchange … Read more