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New Overnight Developments Abroad – Daily Update

Last Week’s Stock Market Euphoria Dissipates

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

Firmer Dollar and Equities as Summer Turns to Autumn

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

Softer Dollar

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

Released Current Account Data and Some Central Bank Decisions

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

Fresh Decline in Turkish Lira

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

Many Asian Stock Markets Fall at Least 1.0%

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

A Shift from Fixed Income Assets Into Stocks

September 14, 2018

The second week of September came and went without the feared announcement of much higher U.S. tariffs. Even though that danger remains looking ahead, there’s been a return ot riskier assets. Share prices in the Pacific Rim rose 1.2% in Japan today, 1.0% in Hong Kong and Singapore, 1.3% in Indonesia and Taiwan, and 1.4% […] More

Thursday’s Menu: Central Bank Decisions, Price Data, Hurricane Florence, and a U.S. Offer for a New Round of High Level Trade Talks with China

September 13, 2018

The Central Bank of the Republic of Turkey lifted its key 0ne-week repo rate by a greater-than-expected 625 basis points to 24.0%. The dollar lost 2.8% against the lira afterward and has also fallen 1.0% against the Russian ruble, 1.6% relative to the South African rand, and 0.6% versus the Mexican peso. The Bank of […] More

Bracing for Hurricane Florence, Higher Tariffs, More Fed Restraint and Ultimately Inflation

September 12, 2018

The Carolinas are expected to be slammed by a storm of historical proportions with 100+ MPH winds, a huge storm surge, and Harvey-like rainfall. Landfall is predicted late Thursday/early Friday. President Trump has hinted that a colossal new round of tariffs may be announced this week. The Federal Open Market Committee’s next policy meeting is […] More

Stock Prices Heading South

September 11, 2018

Fears that the Sino-U.S. trade war is about to escalate sharply weighed on global stock markets. Another concern is Hurricane Florence, a category 4 storm in the Atlantic that’s headed for landfall in the Carolinas sometime around Friday. Over 1 million people are fleeing their homes. Today is the 17th anniversary of the Al Qaeda […] More

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