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May 18, 2012
Pacific Basin equities took another deep dive, falling 3.0% in Japan, 2.7% in The Philippines and Australia, 3.4% in South Korea, 2.8% in Taiwan, 1.6% in Thailand and Indonesia, 1.5% in China and Singapore, and 1.3% in Hong Kong. In the epicenter of worry, stock prices are down 2.1% in Stockholm, 1.0% in London, but [...] More
Tags: Camp David Summit, German producer prices, Moody's
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
May 17, 2012
Asian markets were supported by the FOMC minutes and Japanese first-quarter GDP. Equities around the Pacific Rim rose 3.1% in The Philippines, 1.7% in Taiwan, 1.5% in China, and 0.9% in Japan. FOMC minutes released Wednesday indicated a preference not to stimulate further yet but a willingness to do so if outlook deteriorates appreciably. Japanese [...] More
Tags: Greek election date, Japanese GDP
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
May 16, 2012
Equities fell 3.2% in Hong Kong, 3.1% in South Korea, 2.4% in Australia, 2.2% in Taiwan, 1.8% in India, 1.6% in Singapore, Indonesia and China, and 1.1% in Japan. The British Ftse and German Dax have lost 0.7% and 0.6%, but the Paris Cac is 0.7% firmer. Sterling reacted poorly to the Bank of England [...] More
Tags: Asian equities, Dollar, Euroland CPI, Greek election, Japanese machinery orders
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
May 15, 2012
Released European data overnight were mixed. The United States releases many economic indicators as well today. German Chancellor Merkel and French President Hollande meet today, and there is a meeting too of EU finance ministers. The dollar has lost 0.3% against the Australian dollar, 0.2% versus the loonie and 0.1% against the yuan, euro and [...] More
Tags: Euroland GDP
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
May 14, 2012
The euro fell to its weakest dollar level ($1.2861) since January 19 and lowest yen value (102.94) since February 16. Share prices have tumbled 2.4% in Paris, 2.2% in Frankfurt and 1.8% in London. Ten-year German bund and British gilt yields sank by seven and nine basis points. The 10-year Treasury futures suggests an opening [...] More
Tags: Euroland industrial production, North Rhine Westphalia Elections
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
May 11, 2012
The last thing fragile world financial markets needed was another credit derivative trading bomb shell. After U.S. markets closed Thursday, J.P. Morgan disclosed a loss of at least $2 billion incurred in trading credit derivatives, and share prices fell today by 1.4% in South Korea, 1.2% in Vietnam, 1.1% in Taiwan, 1.3% in Hong Kong, [...] More
Tags: Chinese industrial production slows, J.P. Morgan trading loss
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
May 10, 2012
The dollar shows no overnight change against the yen, euro, and Swiss franc. The greenback lost 0.5% against the Aussie dollar, 0.3% relative to the kiwi, and 0.1% versus the loonie and sterling. The Chinese yuan dipped 0.1% following a weak export and import data. Share prices in Europe are down 0.7% in Paris and [...] More
Tags: Australian labor statistics, Chinese trade
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
May 9, 2012
The view is gaining support that Greece will soon abandon the euro, triggering a chain reaction that will spread to Spain and beyond. IMF/EU/ECB aid monitors have scrapped plans to visit Greece this month pending clarification of that nation’s political situation. It seems Greece may hold new elections on June 17, the same day as [...] More
Tags: German current account, Greek elections
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
May 8, 2012
Movement overnight in the dollar and yen reflect European-Inspired risk aversion. Japan’s currency is 0.2% stronger against the dollar, which otherwise has climbed 0.5% against the Australian and New Zealand dollars, 0.4% versus the loonie, 0.2% relative to the euro and sterling and 0.1% against the Swiss franc. The yuan is unchanged and slightly above [...] More
Tags: Australian trade, Draghi, German industrial production
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
May 7, 2012
Socialist Francois Hollande was elected President France, defeating Nick Sarkozy, who became Euroland’s 11th incumbent leader to be kicked out of office since the start of the sovereign debt crisis in 2009. Hollande favors stronger fiscal stimulus and campaigned on a promise to renegotiate the EU treaty on fiscal discipline. Voters split 51.9% for Hollande [...] More
Tags: French President Hollande, German industrial orders
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
