RSS Feed  Les actualités de la BRVM en Flux RSS

NEWS FINANCIÈRES

Nous agrégeons les sources d’informations financières spécifiques Régionales et Internationales. Info Générale, Economique, Marchés Forex-Comodities- Actions-Obligataires-Taux, Vieille règlementaire etc.

Currencies: the $ weakens, Janet Yellen at the Treasury = low rates

24/11/2020
Source : zonebourse.com
Categories: Index/Markets

Enjoy a simplified experience

Find all the economic and financial information on our Orishas Direct application to download on Play Store

The Dollar fell by -0.4% against the Euro towards 1.1890 and by -0.25% against the Pound (towards 1.3355, despite the warning from the BoE on the damage that a hard Brexit could cause).
The sharpest fall occurred against the Canadian dollar, which recovered +0.6% to 1.30.
The Dollar is losing ground despite an increase of +3Pts in the T-Bond yield to 0.885%, but the markets are betting that US long-term rates will fall with the action of Janet Yellen at the head of the US Treasury (the former boss of the FED is a 'monetary dove' who knows very well the mechanisms for keeping rates low during periods of growth, who should return in 2021

).

New York Federal Reserve Chairman John Williams is happy with how the Fed's bond asset purchase program is working.

He also states that once the political transition is completed (on January 20), the programs cancelled by Steven Mnuchin last Thursday can be reactivated.
But fiscal policy (stimulus packages) seems to him to be the best tool currently, in preference to monetary support from the FED.

Today's US figures seem a bit contradictory but did not have a big impact on the greenback: household confidence fell sharply (from -5.3Pts to 96.1, against 101.4) but the 'Case-Shiller/Corelogic' real estate price barometer, which assesses the housing market in 20 major American cities, soared by +6.6% in October, up sharply compared to the +5.3% observed in the month of September (the consensus anticipated virtual stagnation at 5.4%).

The Case-Shiller 'broad' index, which covers the entire country, reveals a +7% increase in house prices: this is the fastest gain over 12 months since 2014.

Provided by AWS Translate

0 COMMENTAIRE