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November 20, 2020
The Trump campaign is continuing to try to discredit election results in several states. If it can persuade some key states not to certify Biden’s win, the President-Elect could fall short of the needed 270 electoral votes, throwing the election decision back to state legislatures, the House of Representatives, and perhaps the Supreme Court. The […] More
Tags: British retail sales, German producer prices, Japanese consumer prices, record covid cases
Posted in New Overnight Developments Abroad - Daily Update | No Comments »
November 19, 2020
The dollar has frequently benefited from intensifying Covid infections and the rise in general uncertainty that accompanies such. Today has been one of those days. New coronavirus cases in the United States topped 170k yesterday, but the increase over the last 24 hours as of this writing is in fact just shy of 180,000. And […] More
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Correlation Between Covid Cases and the Dollar
November 18, 2020
There’s been more good news regarding Covid vaccine developments as Pfizer’s product, like Moderna’s, has been shown to be 95% effective. Before vaccines can be distributed widely, however, current spikes in cases and deaths point to a very difficult winter ahead for public health and economic activity. New U.S. cases and deaths yesterday approached 160,000 […] More
Tags: Australian wage costs, Bank of Thailand, British CPI and PPI, Central Bank of Iceland, Euroland CPI, Japanese trade balance
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Covid News Proceeding on Two Tracks, While Dollar Slipping but Slows
November 17, 2020
The dollar overnight lost 0.5% against sterling and the Chinese yuan, 0.3% relative to the yen, 0.2% versus the euro, Swiss franc and loonie, and 0.1% vis-a-vis the Australian dollar. Share prices had closed down 0.2% in China and South Korea and are currently down 1.2% in the U.K. and Spain, 0.4% in Germany and […] More
Tags: Brexit trade talks, Covid, Norwegian GDP
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Dollar Softens but Stocks Take a Step Back ahead of U.S. Data
November 16, 2020
A second Covid vaccine developer, Moderna, reported 94% effectiveness in early trials, and the pace of new cases in France, which was soaring, has subsequently slowed a bit. Japanese real GDP rebounded more sharply than anticipated in the third quarter, climbing at a 21.4% annualized rate, breaking a streak of three straight quarterly declines, and […] More
Tags: China industrial production and retail sales, Japanese GDP and capacity utilization
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Encouraging Vaccine News and Economic Data Send Equities and Oil Higher Up But Depress Dollar
November 13, 2020
The dollar is slightly weaker today, with overnight losses of 0.4% against the peso, 0.3% versus sterling, 0.2% vis-a-vis the yen and Australian dollar, and 0.1% relative to the Swiss franc. The dollar is also unchanged against the yuan and euro. Covid News continued to weigh on Asian equities, which dropped 0.9% in China, 0.7% […] More
Tags: Bank of Mexico, Central Reserve Bank of Peru, Euroland GDP, U.S. producer prices
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Additional Leap in U.S. Covid Cases; Euroland 3Q GDP and U.S. PPI Headline Data Menu
November 12, 2020
Covid cases in the last 24 hours exceeded 600k and 140k globally and in the United States. Global and U.S. deaths from the illness over the past two days averaged more than 10k and 1.45k per day. While vaccine development seems to be making good progress, a new worry is that Covid’s ability to mutate […] More
Tags: British GDP, Euroland industrial production, Japanese machinery orders, National Bank of Romania, National Bank of Serbia, U.S. CPI
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Lower Bond Yields, Mixed Dollar and Softer Equities in Face of Relentless Covid
November 11, 2020
On the eleventh day of the eleventh month of 1918, an armistice was signed in Compiegne, France between World War I allies and Germany that ended the so-called “war to end all wars.” Each year on November 11th, that event 102 years ago is commemorated in three countries but by three different names: Armistice Day […] More
Tags: coronavirus pandemic, Reserve Bank of New Zealand
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Tech Stocks Rebound, Covid Cases Soaring, and a Holiday is Observed
November 10, 2020
Yesterday’s vaccine news spurred a stock market rally, but pandemic prospects remain poor until vaccines and therapeutic treatments are widely available. The public is being warned of a grim winter just ahead. New global Covid cases topped half a million yesterday, including a fresh record U.S. number exceeding 130k. U.S. hospitalizations are hovering near 60k. […] More
Tags: Chinese CPI and PPI, German ZEW expectations index, Japanese current account
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Covid Concerns, U.S. Political Tensions, Disinflation, and Weak Demand
November 9, 2020
Stock markets are rallying on two pieces of news. Initial results of Pfizer’s large-scale trials of a Covid-19 vaccine have reportedly demonstrated 90% effectiveness among people without a prior condition. Donald Trump has lost his bid for a second term as president, but Republicans appear to have retained control of the senate. This combination of […] More
Tags: China trade balance, German current account, Mexican CPI, Pfiser vaccine trials
Posted in New Overnight Developments Abroad - Daily Update | Comments Off on Investors Excited by Vaccine Trial News and U.S. Election Results
