Softer Dollar
December 28, 2017
The dollar is mostly softer. Stocks show little net movement. Ten-year sovereign debt yields have risen, and gold is firmer.
Japanese industrial production grew 0.6% on month and 3.7% on year in November, prompting the first upgraded assessment in 13 months to “picking up” from “signs of picking up.”
Japanese retail sales leaped 1.9% in November, much more than forecast, and were 2.2% higher than a year earlier. Motor vehicle output registered on-year growth of 0.9% in November, least in at least five months.
Austria’s manufacturing purchasing managers index rose 2.4 points to 64.3 in December, a record high.
Russia’s manufacturing PMI increased 0.5 points to a 5-month high of 52.0.
U.S. jobless insurance claims amounted to 245K last week, same as in the previous week.
China’s current account surplus widened to $40.5 billion in the third quarter from $37.1 billion in 2Q.
In the year to November, South Korean retail sales advanced 6.5%, but industrial output fell by 1.6%.
Sweden recorded a larger trade deficit in November, whereas Hong Kong’s trade gap shrunk a bit.
According to the British Bankers Association, mortgage approvals in the latest reported month slipped below 40K.
Tomorrow is the last business day of 2017,
Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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