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August 7, 2018
The dollar softened overnight by 0.6% against the Aussie dollar, 0.4% relative to the yuan and euro, 0.3% vis-a-vis the peso, loonie and kiwi, 0.2% versus the yen and Swiss franc, and 0.1% against sterling. Share prices climbed 2.7% in China, 2.0% in Hong Kong, 0.7% in Japan, and 0.6% in South Korea. Equities in […] More
Tags: German current account and industrial production, Japanese household spending, Reserve Bank of Australia rate decision
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Softer Dollar but Higher Share Prices
August 6, 2018
The pound ended last week on a weak note after Bank of England Governor Carney flagged “an uncomfortably high” risk that Britain leaves the EU without any negotiated deal. That message was reinforced over the weekend by Trade Minister Fox’s perception of 60-40 odds in favor of no deal, and sterling slipped a bit below […] More
Tags: German industrial orders, hard Brexit, protectionism
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Sterling Slide Extended
August 3, 2018
The U.S. Labor Department’s July jobs and wage data will be released shortly. Investors are already digesting PMI data reported overnight. Euroland’s composite purchasing managers survey (comprising both manufacturing and service sector activities) dropped back to a 2-month low of 54.3 in July from a 4-month high in June of 54.9. The services PMI had […] More
Tags: Ezone retail sales, Service sector PMIs
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Service Sector PMI Surveys and U.S. Jobs Data
August 2, 2018
The tone of tariff threats between the United States and China has intensified. The Turkish lira tumbled to an all-time low beyond the 5 per dollar level yesterday in response to the imposition of U.S. sanctions against the Turkish Minister of Justice. The lira had already been under siege as a result of accelerating inflation […] More
Tags: Bank of England, Euroland PPI, President Trump
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Share Prices Falter… British and Czech Central Bank Rates Hiked
August 1, 2018
A parade of more than twenty purchasing manufacturing indices released today showed weaker July than June conditions by a ratio of five to one. Today’s FOMC decision is neither expected to entail an interest rate change nor any back-down of resolve following President Trump’s criticism that the Fed has been too quick to raise interest […] More
Tags: FOMC, Manufacturing PMIs
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Assessing July Factory PMIs and Awaiting FOMC Statement
July 31, 2018
The dollar recovered 0.4% against the yen while sliding 0.3% relative to the euro and Australian dollar, 0.2% versus sterling and 0.1% vis-a-vis the loonie and Swiss franc. The Bank of Japan changed the policy framework only marginally, which allowed the worried JGB market to settle down and the 10-year yield to slide back four […] More
Tags: Bank of Japan, German retail sales and unemploymet, Japanese industrial production, U.S. personal consumption and income
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Exhausting Barrage of Data and Developments on Final Day of July
July 30, 2018
Ten-year sovereign debt yields climbed so far today by 7 basis points in the U.K., 5 bps in Germany, France, Italy and Spain, and 3 bps in the United States. Share prices fell in the Pacific Rim by 0.7% in Japan, 0.8% in New Zealand, 0.5% in Hong Kong and Singapore, and 0.4% in Taiwan […] More
Tags: Euroland economic sentiment, German CPI, Japanese monetary policy
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Big Rise in Sovereign Debt Yields Ahead of BOJ, FOMC, and BOE Policy Reviews Later This Week
July 27, 2018
U.S. GDP expanded 4.1% last quarter at a seasonally adjusted annualized rate. That was the fastest quarterly pace since the third quarter of 2014, but analysts had anticipated such a figure. Personal consumption, non-residential investment and government spending climbed 4.0%, 7.3% and 2.1%, respectively. Net foreign demand augmented the growth rate by 1.1 percentage points […] More
Tags: Australian PPI, French GDP, German import prices, U.S. 2Q18 GDP growth
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Dollar, U.S. Stocks, and Treasury Yields Little Changed After Strong U.S. GDP Report
July 26, 2018
The ballooning credibility gap of Facebook finally hit the company’s share price, which has tumbled 19.4% so far today from $217.50 to $178.28. Alphabet, the parent of Google, is down 4.3%, but the DOW is up 0.5%. The ECB Governing Council reviewed its policy stance and decided not to change such. The ECB interest rate […] More
Tags: ECB, Facebook share price plunge, U.S. EU trade accord
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Facebook Plunges, ECB and OPEC Review Things, and a U.S.-EU Trade Accord Is More Truce than Agreement
July 25, 2018
The dollar fell 0.8% overnight against the peso and 0.5% versus the yuan, and it has slipped 0.3% against the loonie, 0.1% vis-a-vis the Australian dollar, and 0.2% relative to the yen, euro, Swiss franc, kiwi, and sterling. Share price losses amount to 0.3% in Taiwan and South Korea, 0.8% in the U.K., 0.6% in […] More
Tags: Australian consumer prices, foreign exchange, German business climate, U.S. new home sales
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Softer Dollar and Share Prices
