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New Overnight Developments Abroad – Daily Update

Focus in Last Week of February to Be on U.S. Economic Policy

February 22, 2021

U.S. stock futures this Monday point to a lower open, with the S&P index down 0.8% and the Nasdaq off 1.4%. Share prices closed down 1.5% in China, 1.2% in New Zealand, 1.1% in Hong Kong and 0.9% in South Korea, while in Europe, equities are thus far down 0.5% or more in the U.K., […] More

Equities and Bond Yields Up… Dollar and Price of Oil Slip

February 19, 2021

Share prices advanced 0.7% in South Korea, 0.6% in China, and 0.5% in Indonesia. European markets and U.S. futures are up, too, but equities fell in Japan, Australia, New Zealand, and Singapore. Ten-year sovereign debt yields today climbed 6 basis pints in the U.K., 3 bps in the U.S. and Germany and one basis point […] More

Stocks and Dollar Falter as Sovereign Debt Yields Resume Their Rise

February 18, 2021

Overnight dollar losses range from 0.7% against sterling to 0.4% relative to the Aussie and New Zealand dollars, 0.3% versus the euro, Swiss franc and peso and 0.2% relative to the yen and loonie. The trade-weighted dollar is 0.3% softer. Ten-year sovereign debt yields are up four basis points in the U.K., lifting the pound […] More

Dollar Rebound Extended 0.3%

February 17, 2021

The dollar is 0.3% stronger on an effective trade-weighted basis. It is up 0.4% against the euro and near the day’s high and touched a 5-month high of 106.22 Japanese yen overnight. The reviving dollar reflects climbing long-term U.S. interest rates as investors are betting on the Congress approving a pandemic relief package of around […] More

Dollar Strengthened Modestly Overnight

February 16, 2021

The dollar rose 0.2-0.4% against the euro, yen, Swiss franc, sterling, and Canadian, Australian and New Zealand dollars. Japan’s Nikkei-225 equity index, which jumped 1.9% Monday and closed above 30,000 for the first time since 1990, extended that advance by 1.3% this Tuesday. This rise had been ignited by news of a stronger-than-expected 3.0% fourth-quarter […] More

Japanese GDP Reported and Many Holiday Closures

February 15, 2021

It’s President’s Day in the United States, Carnival in Brazil, Family Day in Canada, and the continuing Lunar New Year holiday break in China and several other Asian markets. The dollar is narrowly mixed and down 0.1% on a trade-weighted basis. Ice-cold temperatures in much of the United States have lifted West Texas Intermediate crude […] More

Dollar Rose Slightly

February 12, 2021

The dollar recovered 0.5% against the Mexican peso and New Zealand dollar, 0.3% relative to the Swiss franc and Australian dollar, 0.2% versus the euro, yen, and loonie, and 0.1% against sterling overnight. On a trade-weighted basis, the U.S. currency is up 0.2% and trading in the middle of today’s high-low corridor. Lunar New Year […] More

Projected Euroland Growth in 2021 Revised Lower

February 11, 2021

Many Asian markets were closed today due to holiday observances. China, Taiwan, Singapore, Hong Kong, and South Korea were among the countries observing the lunar New Year, and Japan celebrated National Foundation Day. The lack of Asian market leadership confined the dollar to narrow ranges. Compared to Wednesday closing levels, the dollar is unchanged on […] More

Price and Industrial Production Data, Fed Chair Powell Speaking, and More of the Trump Trial

February 10, 2021

The dollar is unchanged today on a trade-weighted basis and remains near a 2-week low. Equities closed up 1.9% in Hong Kong and 1.4% in China but only +0.2% in Japan. Share prices are pretty flat so far today in the U.K., France, Germany, and U.S. futures trading. Prices for WTI oil and Comex gold […] More

Slightly Softer Dollar Ahead of the Start of Trump Impeachment Trial

February 9, 2021

The dollar lost 0.4% in trade-weighted terms and is also down 0.6% against traditional hard currencies like the euro, yen and Swiss franc. The value of a bitcoin advanced to yet another record high of $48,000. Dollar weakness extends to many commodity-sensitive currencies and to gold, which is 0.6% firmer. Day one of the Trump […] More

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