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New Overnight Developments Abroad – Daily Update

A Week of Transition Ends with Release of Weak Data and Fresh Investor Uneasiness

January 22, 2021

The Biden Administration has been busy reorienting American policies, but markets today are most fixated on alarming Covid trends and fresh evidence of their adverse impact on economic activity. U.S. equity futures are set to open 0.5-1.0% lower today after markets closed down 1.7% in Indonesia, 1.6% in Hong Kong, 1.5% in India, 0.9% in […] More

Slew of U.S. Executive Orders and Central Bank Policy Reviews

January 21, 2021

President Biden’s inaugural address yesterday called for national unity to face down the many severe challenges now juxtaposed. 17 executive orders followed to reverse several polices of the Trump era. Contrary to warnings, inauguration day was free of domestic violence. U.S. stocks experienced their greatest advance on a presidential inauguration day since 1985, when Reagan […] More

Ahead of Biden Inaugural, Equities and Commodity Prices Are Up, while Dollar Is Softer

January 20, 2021

Overnight dollar losses amount to 0.6% against sterling, 0.5% relative to the Australian dollar, 0.4% vis-a-vis the yuan, 0.3% versus the loonie and kiwi, and 0.2% against the euro and peso. The Swiss franc is steady, and the yen has edged 0.1% lower against the greenback. The trade-weighted DXY dollar index is somewhat above 90.5. […] More

Investors More Inclined to Taking a Risk

January 19, 2021

Stock markets closed on Tuesday up 2.7% in Hong Kong, 2.6% in China, 1.7% in India, 1.4% in Japan and appear headed for a rise of almost 1.0% on the U.S. open. European markets held back, with upticks so far of just 0.2% in Germany and 0.1% in the U.K. and France. Refuge currencies like […] More

Chinese Data, MLK Day and First Central Bank Rate Change of 2021

January 18, 2021

Financial markets this Monday will lack U.S. leadership due to the observance of MLK Day. In the wake of aroused racial strains that culminated in the 1/6 domestic terrorism attack on the nation’s capitol, there is extra poignancy to this year’s observance and uneasiness that more violence may mar this day. The National Bank of […] More

Market’s Initial Reaction to American Rescue Plan Not Favorable

January 15, 2021

U.S. stock futures point to a decline of at least 0.5% at the open. Stock markets closed Friday with losses of 2.0% in South Korea, 1.1% in India, 0.9% in Indonesia, 0.8% in New Zealand, 0.6% in Taiwan and Japan. Equities are currently down about 1% in the U.K., Germany, France and Spain. The 10-year […] More

Tension on Several Fronts but Market Moves Muted Overnight

January 14, 2021

President Trump has been impeached by the House of Representatives for the second time in 13 months. The Senate trial will commence soon after he leaves office. New Covid cases and deaths remain highly elevated in many countries. The British daily death toll set a record yesterday. Bank of Japan Governor Kuroda said monetary stimulus […] More

Revolting Developments in the United States but Dollar Narrowly Mixed

January 13, 2021

The United States experienced a new record high daily death count yesterday from Covid that exceeded 4.4k and was accompanied by almost 230k new reported cases of the illness. A drop of 10 years in the government’s recommended minimum age for getting a vaccine now and other sudden shifts in guidelines for administering the shot […] More

Covid and U.S. Politics in the Forefront

January 12, 2021

The dollar ticked up 0.1% against the yen overnight and held steady on balance versus the euro, but has slipped moderately against other key currencies such as sterling (0.5%), the Mexican peso (0.7%), the Canadian and Australian dollars (0.3%), the Chinese yuan (also 0.3%), the kiwi (0.2%) and the Swiss franc (0.1%). U.S. equity futures […] More

Equities Open Lower after Big Rise Last Week.. Dollar Recovers on Risk Aversion

January 11, 2021

The dollar climbed overnight by 1.1% against the Mexican peso, 0.7% relative to the Swiss franc, sterling, and Canadian, Australian and New Zealand dollars, 0.5% versus the euro, and 0.3% vis-a-vis the yen (to a 5-week high above 104.0). The trade-weighted dollar move was +0.5%. U.S. equities have fallen 0.6-0.8% in futures trading. Share prices […] More

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