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New Overnight Developments Abroad – Daily Update

Next Week

February 15, 2019

Central Banks: Monetary policy reviews are scheduled next week in Indonesia and Sri Lanka, while the European Central Bank, FOMC, and Reserve Bank of Australia will publish minutes from their last policy meetings. Federal Reserve district presidents Mester and Bullard will be speaking publicly, and so too will the governors of the Bank of Canada […] More

Border Emergency Instead of a Second U.S. Government Shutdown

February 15, 2019

Share prices sank in Asia by 2.2% in Hong Kong, 1.4% in China, 1.3% in South Korea and 1.1% in Japan but have since rallied 1.0% or more in the U.S., Canada, Germany and France. The dollar fell overnight by 0.5% against sterling, 0.3% relative to the Aussie dollar, and 0.2% vis-a-vis the kiwi but […] More

Released Data in the Spotlight

February 14, 2019

Thursday figured to be a day of data watching with the scheduled release of both Euroland and Japanese GDP figures, plus China’s trade balance. But it was much weaker-than-anticipated U.S. retail sales in December that caught the market’s attention, giving greater credence to recent warnings from several economists that U.S. recessionary risks seem to be […] More

Policies Driving Currency Markets as More Evidence Emerges of Slower Global Growth

February 13, 2019

Industrial Production in the euro area fell 0.9% in December, more than double the expected slide after a 1.7% drop recorded in November. This resulted in a 4.2% 12-month rate of decline, the biggest on-year contraction since November of 20o9. December output among the common currency bloc’s five largest economies fell from end-2017 levels by […] More

Greater Optimism on A U.S. Border Security Deal

February 12, 2019

The U.S. Congress reached an accord “in principle” on a border security deal. Details still need to be fleshed out, and it’s not clear if President Trump is prepared to sign such. But the development inspired enough hope to lift U.S. share prices about 1% in early Tuesday trading. Stocks earlier rose 2.6% in Japan, […] More

Time Running Out on Several Matters

February 11, 2019

The temporary suspension of the U.S. Federal Government shutdown ends on Friday. A deal between the White House and Congressional Democrats that meets President Trump’s insistence on border wall funding is not in sight. Perhaps he should bankroll the project out  of his personal wealth or establish a Go-Fund-Me campaign to raise the money. Chinese […] More

Global Stocks Down after Trump/Xi Meeting Scrapped

February 8, 2019

The revelation that President Trump will not be meeting with Chinese President Xi before March 1 dampened hopes for a trade deal, weighed on general concerns regarding global growth, and sent share prices down 2.0% in Japan, 1.2% in South Korea and India, 1.0% in Spain, and 0.9% in Germany. The Dow and S&P fell […] More

Aussie Dollar Down More than 1% Overnight

February 6, 2019

An overnight speech by Bank of Governor Lowe, not Donald Trump’s delayed State of the Union address, stole the currency market spotlight today. Forward guidance from the Reserve Bank of Australia had for some time pointed to an eventual interest rate increase, but Lowe said that in line with shifting economic data and changing global […] More

More Evidence of Weakening Growth in Europe and Trepidation Ahead of President Trump’s State of the Union Address Tonight

February 5, 2019

The conclusion of Euroland’s service-sector and composite purchasing manager surveys tells it all: The business environment is at its most challenging since the height of the region’s debt crisis.” The composite Ezone PMI reading of 51.0 was at a 66-month low, and service sector activity (51.2) was near its 4-year low. From a separate report […] More

Dollar Firms a Bit

February 4, 2019

Several markets including China, Hong Kong, Taiwan, South Korea and Singapore are shut for the Lunar New Year holiday. Half the U.S. government shutdown reprieve has been spent, and still there is no agreement. U.S./Chinese trade talks are another continuing source of uncertainty. The dollar is 0.2-0.4% firmer against the euro, Swiss franc, loonie, Aussie […] More

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