July 14, 2020
Covid-19 infestations in Texas, Florida, and California cast a big cloud on U.S. economic recovery prospects. The global Covid case and death counts climbed 204k and 4.1k in the past 24 hours. The dollar rose overnight by 0.3% versus the Chinese yuan, 0.2% against sterling and the kiwi, and by 0.1% relative to the yen […] Read Article
July 10, 2020
Central Banks: Monetary policy reviews are scheduled at the European Central Bank (ECB), Bank of Japan (BOJ), Bank of Canada and in South Korea, Indonesia, Chile and Poland. BOJ Governor Kuroda, ECB President Lagarde, Bank of Canada Governor Macklem, Swiss National Bank President Jordan, and Bank of England Governor Bailey will be speaking publicly. The […] Read Article
July 9, 2020
The Central Bank of Sri Lanka became the latest monetary authority to slash interest rates. The Standing Deposit Facility and Standing Lending Facility rates were each reduced by 100 basis points to 4.5% and 5.5%, respectively. Earlier this year, cuts of 25 bps in March and April were sandwiched between 50-basis point cuts in January […] Read Article
July 1, 2020
The ISM-compiled U.S. purchasing managers index (52.6) and the IHS-compiled Euroland PMI of 47.4 both rose to four-month highs in June. The U.S. index increased 9.5 points, 1.5 points more than did the Ezone PMI, and there was an additional significant attribute to the U.S. widening advantage last month. At 47.4, conditions in Euroland manufacturing […] Read Article
July 13, 2020
Almost 2000 U.S. deaths have been attributed to Covid-19 since this time Friday, and the number of globally reported cases rose more than 600k to 13.06 million. Stock markets are nonetheless higher as investors await the start of the second quarter earnings season. Share prices rose 2.2% in Japan, 1.8% in China, 1.7% in South […] More
July 10, 2020
The New York metropolitan area is bracing for a tropical storm front coming later today. The coronavirus’ grip on world financial markets remains relentless. In the United States, the daily total of newly reported cases surpassed 60k for a second straight day, and deaths from the disease climbed by almost 1k to a grand total […] More
July 9, 2020
Ever since fixed dollar parities were abandoned in March 1973, analysts have used trade-weighted compilations of bilateral dollar values against other heavily traded currencies to gauge a gestalt of the dollar’s average performance. In one such index created by the Fed at the dawn of the floating dollar era, the dollar has ranged as high […] More
July 9, 2020
The global count of Covid-19 cases rose 216 thousand in the past 24 hours to roughly 12.2 million. In that span, there was a record 62 thousand rise in U.S. reported cases, even as President Trump threatened repercussions to school districts that do not reopen in the fall. The Covid death count stands just above […] More
July 8, 2020
There’s been a central bank interest rate cut in Malaysia, the fourth so far this year. The latest change in the overnight policy rate was a reduction of 25 basis points to 1.75%. Earlier cuts of 25 basis points were enacted in January and March followed by a 50-bp move in May. Bank Negara Malaysia‘s […] More
July 8, 2020
The number of new U.S. Covid-19 cases identified in the past 24 hours once again surpassed 55,000, and there have been about 1000 related deaths, which is twice the number in the prior day. A number of Fed officials have recently pointed to this worrying development as perhaps foreshadowing a leveling off of economic recovery […] More
July 7, 2020
Major stock markets in Europe show losses so far today of 1.2% in the U.K. and Germany and 1.0% in France and Spain. Equities closed down 1.4% in Hong Kong, 1.1% in South Korea and Singapore, and 0.4% in Japan. U.S. futures suggest that at least half of Monday’s strong rise in equity prices will […] More
July 6, 2020
Share prices in Asia overnight leaped 5.7% in China, 3.8% in Hong Kong,1.8% in Japan, 1.7% in South Korea, 1.4% in Singapore and 1.3% in India. Key markets around Europe are currently up by 2.3% in Spain, 1.9% in Italy, 1.8% in Great Britain, 1.6% in France and Germany and 1.0% in Switzerland. A U.S. […] More
July 3, 2020
Central Banks: Monetary policy reviews are scheduled in Australia, Serbia, Sri Lanka, Poland, Romania, Israel and Peru. Quarles, Barkin, Bostic and Daly of the Federal Reserve and Lagarde and Guindos of the European Central Bank will speak publicly. Parliamentary testimony will be given by some Bank of England officials, and the Bank of Canada’s Business […] More
July 3, 2020
The United States Independence Day holiday weekend kicked off today, and without the leadership of a U.S. trading session, overnight movements in the dollar were suppressed. The greenback is unchanged against the yen, euro and yuan, up 0.1% against the Swiss franc and sterling and down 0.3% versus the Aussie dollar, 0.2% relative to the […] More
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