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June 26, 2020
Over the past 24 hours, new coronavirus cases and deaths in the United States rose by 41,735 and 2,491. Total reported U.S. cases moved marginally above 2.5 million, but in a chilling portent of the possible future trend, medical officials believe that outstanding U.S. infections may be as much as ten times greater than the […] More
Tags: Euroland money and credit growth, Italian business and consumer sentiment, U.S. coronavirus cases and deaths, U.S. personal income and spending
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Another Record Daily High in New Covid-19 Infections
June 25, 2020
America’s bad Covid-19 numbers continue to dominate world financial markets this Thursday. China, Hong Kong and Taiwan are closed for the Dragon Boat Festival, but in other stock markets in the Pacific Rim, share prices closed with losses of 2.5% in Australia, 2.3% in South Korea, 1.5% in Singapore, 1.4% in Indonesia and 1.2% in […] More
Tags: Bangko Sentral Ng Pilipinas, Central Bank of Turkey, Japanese all-industry index
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Distress Persists that Runaway U.S. Outbreak Will Constrain Recovery
June 24, 2020
The year-to-date number of reported U.S. infections, 2.424 million, has climbed somewhat more than 36k in the past 24 hours and 216 thousand from a week ago. This has created doubt that economic reopening can proceed as planned, and even supporters of President Trump are starting to lose patience that he has the right stuff […] More
Tags: Bank of Thailand, Czech National Bank, French business sentiment, German business climate, Reserve Bank of New Zealand
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Investors Spooked by Faster Proliferation of New Covid-19 Cases in the United States
June 23, 2020
PMI readings for Euroland, Germany, France, and Great Britain show a V-shaped pattern. Other themes of today include A further disturbing rise in the Covid-19 numbers. Global cases rose about 145,000 in the past 24 hours, 31k of which were reported in the United States. U.S. President Trump’s opinion poll approval ratings continue to erode. […] More
Tags: Central Bank of Hungary, Central Bank of Paraguay, Peter Navarro, Preliminary purchasing managers surveys
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Preliminary Purchasing Manager Readings for June Beating Expectations
June 22, 2020
The upswing of global and U.S. Covid-19 infections accelerated over the weekend. Global cases moved above 9 million people, and U.S. deaths from the disease climbed above 122 thousand. The Trump rally in Oklahoma attracted fewer people than anticipated, in part reflecting fear of catching the virus. Street protests in American cities continued. The dollar […] More
Tags: COVID-19, National Bank of Belarus
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Softer Dollar, Share Prices, and Sovereign Debt Yields
June 19, 2020
Share prices got a boost from an overnight report that China will step up purchases of U.S. agricultural goods. This comes after Thursday’s revelation in the Bolton tell-all book that Trump had solicited a boost in Chinese purchases to voter reelection support from the mid-west. Several populous U.S. states like California, Florida, and Texas continue […] More
Tags: Bank of Russia, British retail sales, Euroland current account, German PPI, Japanese consumer prices, U.S. current account
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Good Trade News but Unsettling Covid Developments
June 18, 2020
It’s been a busy day for central bank watchers, as monetary policy was reviewed in the U.K., Norway, Switzerland, Brazil, Taiwan, and Indonesia. Released statements and some new data adhere to the baseline view that economic activity contracted even more sharply in the second quarter than the first but that the rate of slide began […] More
Tags: Australia unemployment, Bank Indonesia, Bank of England, Bank of Norway, Central Bank of Brazil, Central Bank of the Republic of China (Taiwan), New Zealand GDP, Swiss National Bank, U.S. jobless insurance claims
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on More Concern than Hope in Thursday’s Marketplace
June 17, 2020
The dollar is narrowly mixed this Wednesday. In spite of concerns that attempts to reopen social activities could intensify the Covid-19 pandemic, stock markets mostly rose, with the notable exception of a 0.6% slide in Japan’s Nikkei-225. New Zealand’s market shot up 3.9%, and European bourses show gains today so far of 1.3% in Switzerland, […] More
Tags: British CPI and PPI, Euroland construction output and CPI, Japanese trade balance, Powell
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Dollar Little Changed Overnight
June 16, 2020
The weakness of stock markets early Monday dramatically reversed direction when the Federal Reserve announced an expansion of its corporate bond purchases. That turnaround extended overnight into trading in the Pacific Rim, where markets closed up 4.9% in Japan, 5.3% in South Korea, 3.9% in Australia, 2.4% in Hong Kong, 2.0% in Singapore, 1.8% in […] More
Tags: Bank of Japan, German and Euroland ZEW expectations, Jay Powell, Kim Jung Un, U.S. retail sales and industrial production
Posted in New Overnight Developments Abroad - Daily Update, Uncategorized | Comments Off on Policy Support Overriding Covid-19 and Geopolitical Concerns at Least for Now
June 15, 2020
The attempted reopening of business activity is happening with a critically missing element, and that is the public’s confidence that doing so is safe from a health standpoint. This is particularly true in the United States where many politicians and the medical experts are saying different things and after a four-year propaganda war to destroy […] More
Tags: Chinese industrial output and retail sales, Euroland trade balance, Indian wholesale price inflation, Japan's tertiary index
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Third Week of June Starts with Virus-Driven Risk Aversion
