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October 7, 2019
The Brexit deadline is now 24 days away, and British Prime Minister Johnson is still insisting on leaving the EU at monthend with or without a deal. He’s unwilling to compromise further. U.S.-Sino trade talks resume Thursday, but it’s reported that while the U.S. wants a comprehensive agreement, China seeks a more limited scope in […] More
Tags: German industrial orders, Japan's index of leading economic indicators, Sentix measure of Ezone investor sentiment
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Unsettling Geopolitical News Over the Weekend and Some Weak Data Released Today
October 4, 2019
Today’s big question is whether the U.S. jobs statistics due in an hour corroborate other weak data released during the past month. Yesterday brought stunning news that the non-manufacturing purchasing managers index slumped 3.8 points in September to a 3-year low and embodied drops of 6.3 points in production and 6.6 points in new business. […] More
Tags: Euroland construction PMI, Reserve Bank of India, U.S. non-manufacturing PMI
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Investors Uneasy Awaiting U.S. Jobs and Trade Data
October 3, 2019
Composite purchasing manager surveys that embody non-manufacturing as well as manufacturing activity released for several countries in Europe by and large underperformed expectations. Most alarming were the reports for Germany and the U.K., each of which recorded slight contractions of real GDP in the second quarter. The German service sector PMI dropped 3.4 points in […] More
Tags: Australia trade surplus, Euroland retail sales and PPI, National Bank of Romania, Service-sector purchasing manager surveys
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Technical Recessions in Germany and U.K. and More Impeachment Drama in the U.S.
October 2, 2019
Investors remain leery that policymakers are up to the task of containing the slowdown of global growth. Monetary stimulus has grown old and less effective, while fiscal support is largely missing in action. The trade war motors on even as evidence such as the September purchasing manager surveys show that nobody wins. British Prime Minister […] More
Tags: Bank of Iceland, Boris Johnson, Draghi, Japanese consumer confidence, National Bank of Poland, Swiss CPI, UK construction PMI
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Nervous Market Tone Continuing
October 1, 2019
As China observes National Day, increasingly violent protests in Hong Kong evoked a Kent State moment as one protester has been shot there. Half a world away, President Trump’s team stepped up its manhunt for the impeachment whistle blower. Britain, too, is convulsed by its own constitutional crisis, ans the Conservative Party prepares for its […] More
Tags: Euroland CPI, manufacturing purchasing manager surveys, Reserve Bank of Australia, Swiss retail sales
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Geopolitical Strains, Weak Data, and a Poor Bond Auction as New Quarter Kicks Off
September 30, 2019
On this final day of September and the third quarter, the dollar and sterling rose somewhat against other major currencies. The dollar is up 0.5% against the Swiss franc, 0.4% relative to the euro and kiwi, 0.3% vis-a-vis the yuan, 0.2% versus the Australian dollar and peso and 0.1% against the yen and loonie. Sterling […] More
Tags: British GDP and current account, German CPI and unemployment, Japanese industrial production and retail sales
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Typical Monthend Deluge of Data
September 27, 2019
A number of factors could have made Friday an ugly day in the marketplace — the U.S. and British political crises, weak European and U.S. data, and Japanese disinflation. But instead, the mood has been lifted by the announcement that U.S. and Chinese trade delegations will restart formal talks in Washington on October 10th. Share […] More
Tags: Bank of Mexico, Euroland economic sentiment, U.S. personal income and spending, U.S.-Sino trade talks
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Trade Talks Back in the Spotlight
September 26, 2019
The dollar fell overnight by 0.5% against the kiwi, 0.4% relative to the Aussie dollar, and 0.1% versus the yen and loonie, but it also rose 0.2% against sterling and the euro as well as 0.3% vis-a-vis the Swiss franc. The yuan and peso are unchanged. Wednesday’s rebound in U.S. share prices carried over into […] More
Tags: Bangko Sentral Ng Pilipinas, German consumer confidence
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Watching Impeachment Developments and Digesting Data
September 25, 2019
House Speaker Pelosi ended her previous resistance to calls for Trump’s impeachment, raising the political risks to both Democrats and Republicans. The United States and Great Britain, which led the free world’s fight against fascism in the 20th century, are now both enmeshed in constitutional crises. Equities fell overnight by 1.3% in South Korea and […] More
Tags: Bank of Thailand, British distributive trades survey, Czech National Bank, impeachment, Reserve Bank of New Zealand
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Dollar Up and Stocks Down as Impeachment Inquiry Opens Against Trump
September 24, 2019
The Brexit crisis deepened today as the highest British court ruled unanimously that Prime Minister Johnson’s suspension of parliament was illegal. Just 37 days remain before the current October 31 deadline by which a Brexit deal must be worked out by the Johnson’s government, which at the moment appears highly improbable. On the data front, […] More
Tags: Court ruling on suspension of British Parliament, German business climate index, Japanese PMI and index of leading economic indicators
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Difficult Day in the U.K.
