Larry's Blog
September 24, 2018
Andrew Jackson, who led America from 1829 to 1837, is President Trump’s favorite former U.S. president. Photo ops of the current president at his oval office desk prominently display a portrait of the seventh president on the wall. And indeed the two men, separated by nearly two centuries, are true soul mates in temperament as […] More
Tags: Trump and Jackson
Posted in Larry's Blog | Comments Off on Jackson and Trump
New Overnight Developments Abroad - Daily Update
September 24, 2018
Equities dropped 2.0% in Hong Kong, 1.8% in India, 1.3% in Indonesia and 0.5% in New Zealand. Losses in European markets so far amount to 1.2% in Greece, 0.6% in Italy, 0.5% in Spain, 0.3% in Germany, 0.2% in France and Switzerland, and 0.1% in Great Britain. The more sour mood reflects China’s refusal to […] More
Tags: German business climate index, Kavanaugh hearing
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Last Week’s Stock Market Euphoria Dissipates
New Overnight Developments Abroad - Daily Update
September 21, 2018
The dollar strengthened this Friday by 1.4% against the Turkish lira, 0.7% relative to the Russian ruble and sterling, 0.6% vis-a-vis the South African rand, 0.4% versus the Mexican peso, 0.2% against the yen and Brazilian real, and 0.1% relative to the euro, loonie, Australian and New Zealand dollars. The Hong Kong dollar was an […] More
Tags: Canadian retail sales and CPI, Japanese consumer prices, preliminary Euroland and Japanese PMI surveys, U.S.-China trade dispute
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Firmer Dollar and Equities as Summer Turns to Autumn
Central Bank Watch
September 20, 2018
Norway’s key central bank rate was raised 25 basis points to 0.75%. That’s the first increase in many years but will not be the last. The rate had been lowered by 175 basis points between late 2011 and March 2016. A statement from the Executive Committee observes gradually diminishing excess capacity that should similarly lift inflation […] More
Posted in Central Bank Watch | Comments Off on An Initial Tightening of Norwegian Monetary Policy
New Overnight Developments Abroad - Daily Update
September 20, 2018
The dollar fell overnight by 0.8% against the kiwi, 0.6% relative to sterling, 0.4% vis-a-vis the euro and 0.2% versus the currencies of America’s NAFTA partners. The yen and yuan are unchanged. China partly matched Trump’s latest round of tariff hikes. While the 10-year German bund and British gilt yields settled back a basis point […] More
Tags: Bank of Norway, Central Bank of Brazil, New Zealand GDP, Swiss National Bank
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Softer Dollar
New Overnight Developments Abroad - Daily Update
September 19, 2018
The dollar is steady to mostly softer. North America’s stock market rally on Tuesday carried over into Asia and Europe. The ten-year British gilt yield edged up 2 basis points, and gold firmed 0.4%. Oil is steady, as are German bunds and Japanese JGBs. New Zealand recorded a larger-than-forecast NZD 1.619 billion current account deficit […] More
Tags: Bank of Japan, British CPI and PPI, Euroland current account, U.S. current account
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Released Current Account Data and Some Central Bank Decisions
New Overnight Developments Abroad - Daily Update
September 18, 2018
Turkey grabbed the currency market spotlight on a day otherwise devoid of meaningful data to be reported. The lira dropped 2% against the dollar as President Erdogan took aim against opposition party members of IsBank’s Board of Trustees. The lira’s loss erased the recovery that occurred last week after the Turkish central bank sharply raised […] More
Tags: Bank of Japan, Turkish President Erdogan, U.S. tariffs on Chinese imports
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Fresh Decline in Turkish Lira
New Overnight Developments Abroad - Daily Update
September 17, 2018
While Japan was closed for Respect for the Aged Day, share prices elsewhere in Asia dropped 2.1% in China to a 4-year low, 1.8% in Indonesia, 1.6% in Hong Kong, 1.3% in India, 0.7% in South Korea and 0.6% in Singapore. Investors continue to worry about a trade war involving the United States. Stocks softened much […] More
Tags: Chinese property prices, euro area CPI, Kavanaugh
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Many Asian Stock Markets Fall at Least 1.0%
Foreign Exchange Insights and Next Week
September 14, 2018
Central Banks: Monetary policy reviews in Japan, Brazil, Switzerland, Norway, South Africa, Hungary, and Thailand. Minutes of the last Reserve Bank of Australia policy review to be published. RBA Kent and ECB President Draghi speak publicly. Holidays and Special Events: Japan’s Respect for the Aged Day on Monday. India’s Islamic New Year (Moharram) on Thursday. […] More
Tags: Economic Data Calendar
Posted in Foreign Exchange Insights and Next Week | Comments Off on Next Week
Central Bank Watch
September 14, 2018
According to a statement released by the Board of Directors, inflation is climbing toward 4% faster than expected and inflation expectations have moved slightly higher, warranting today’s decision to implement the central bank’s first rate increase since mid-December of 2014. The peak of 17.0% only was retained for 7 weeks. A series of reductions ensued […] More
Tags: Central Bank of the Russian Federation
Posted in Central Bank Watch | Comments Off on Bank of Russia Surprises Market with 25-Basis Point Key Interest Rate Hike to 7.5%
