03/20/2016 - Central Banks on Parade

* Central Banks on Parade
* Market Movers: Weekly Technical Outlook
* Look Ahead: Stocks
* Look Ahead: Commodities
* Global Data Highlights

The primary global macroeconomic theme that prompted the most significant moves in the currency markets this past week was clearly central bank activity. In actuality, however, this theme can be more accurately described as inactivity, as all four major central banks that issued statements during the week kept interest rates unchanged. This included, in chronological order, the Bank of Japan, the US Federal Reserve, the Swiss National Bank, and the Bank of England. This non-action was in stark contrast to the prior week, when the European Central Bank introduced a broad array of rate cuts and stimulus measures that exceeded expectations, taking the markets by surprise.

Despite this past week's conspicuous lack of interest rate changes, however, comments and implications that accompanied some of the central bank statements resulted in unexpected currency movement. Most notably, in issuing its policy statement and press conference this past Wednesday, the Fed asserted that expectations of US interest rate hikes this year had... Full text »

Facebook | Twitter | YouTube

from FOREX.com's Weekly Strategy http://www.forex.com/weekly-forex-research.html