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February 1, 2019
Shortly ahead of the release of January U.S. labor market statistics, the dollar is mostly marking time, with no net change against the yen or loonie, downticks of 0.2% against the euro and 0.1% versus the Swiss franc and kiwi, and upticks of 0.6% relative to the yuan, 0.4% vis-a-vis sterling, 0.2% against the Aussie […] More
Tags: Euroland CPI, Manufacturing PMIs, U.S. jobs growth and unemployment
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Manufacturing PMIs Convey Global Slowdown for the Most Part
January 31, 2019
The FOMC’s tightening pause gave a big boost to U.S. stocks yesterday and was augmented by some better-than-expected corporate earnings. But the DOW fell in the first hour of U.S. trading, and share prices have also weakened today in Germany France, and Australia. This contrasts with gains close to 1% in China, Hong Kong and […] More
Tags: Central Bank of Chile, Euroland GDP, Japanese industrial production, Jay Powell, National Bank of Ukraine
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Short-Lived Fed Stockmarket Rally
January 30, 2019
Last night’s British parliamentary votes produced an ill-advised win for Prime Minister May, rejecting a no-deal option or a second referendum in favor of authorization for the prime minister to attempt a renegotiation of parts of her agreement with the rest of the EU. Those governments have repeatedly ruled out renegotiation, so a no-deal Brexit […] More
Tags: Australian CPI, Brexit votes, Euroland economic sentiment, FOMC, French GDP, German CPI
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Brexit Mess, An FOMC Announcement, and Some Weak Data Reports
January 29, 2019
The major dollar relationships have moved 0.2% or less overnight. President Trump’s State of the Union Address has been reset for February 5th. Originally, it would have been today but was delayed because of the federal government shutdown. That leaves today’s major object of market attention fixed on Britain’s Parliament, where a series of votes […] More
Tags: Austrian manufacturing PMI, Brexit vote in parliament, French consumer confidence, Italian PPI
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Important Decisions Later Today in the Long Brexit Saga
January 28, 2019
Prospects weakened over the weekend for a border security deal between President Trump and Congressional Democrats by the February 15th deadline. The president attaches less than even odds to that happening and insists that a wall will be built. The negotiation of withdrawal terms for Brexit is going nowhere. The EU rejects any renegotiation of […] More
Tags: Chinese corporate profits, Euroland money growth, foreign exchange, Trump's wall plans
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Political Strains Batter Equities Again
January 25, 2019
Equities lately have been a better barometer than foreign exchange of optimism that the U.S. government shutdown will be resolved and that a re-escalation of U.S. and Chinese tariffs will be averted. On that score, it’s a good sign that in the Pacific Rim share prices closed up by 1.7% in Hong Kong, 1.5% in […] More
Tags: German business climate index, Tokyo consumer prices
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Hope Rises that Trade Talks with China and Border Wall Talks Can Be Resolved
January 24, 2019
Investors continue to face three big uncertainties: the U.S. government shutdown, the fast-approaching Brexit deadline, and the failure so far of U.S. and Chinese trade negotiators to reach a mutually satisfying agreement. Planned senate votes on the border wall and shutdown are not likely to pass. The on-again, off-again scheduled state of the union address […] More
Tags: Bank Negara Malaysia, Bank of Korea, Bank of Norway, Brexit, ECB, preliminary purchasing manager surveys, state of the union address
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Anxious Times for Investors
January 23, 2019
The yen fell 0.4% against the dollar overnight on data news and the Bank of Japan’s downward revision of projected core inflation for fiscal 2018, fiscal 2019, and fiscal 2020. The Bank of Japan left its monetary policy unchanged and also revised growth downward in the current fiscal year ending March 31 . BOJ Governor […] More
Tags: Bank of Japan, Brexit, Euroland consumer confidence
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Softer Dollar and Yen
January 22, 2019
The dollar is unchanged against the Swiss franc, down 0.2% versus the yen, sterling and peso, off 0.1% relative to the euro, and up 0.1% vis-a-vis the kiwi and yuan. Larger gains have been notched of 0.4% against the loonie and 0.3% versus the Australian dollar. Equities in the Pacific Rim fell 1.2% in China, […] More
Tags: British labor statistics, ZEW investor sentiment
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Dollar Little Changed as Global Stocks Turn Lower Again
January 21, 2019
U.S. markets are closed today, depriving global markets of their leadership. Martin Luther King’s birthday is being observed. The International Monetary Fund published its quarterly World Economic Update, revising projected global growth in 2019 down 0.2 percentage points to 3.5% and projected global growth in 2020 down 0.1 percentage point to 3.6%. The new growth […] More
Tags: Chinese economic data
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Weakening Growth Prospects, Persistent Uncertainties, and a U.S. Holiday
