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New Overnight Developments Abroad – Daily Update

Natural Disasters, Manmade Disasters and Central Bank Meetings Top News

September 20, 2017

Puerto Rico is being hammered by a Cat 4 hurricane with 155 MPH winds. Mexico is reeling from a 7.2 magnitude earthquake that struck yesterday. Around 25o people confirmed dead. U.S. Republican senators are scrambling to pass a repeal and replace healthcare bill by monthend that’s even more dysfunctional than previous efforts. In a speech […] More

Japanese Nikkei Plays Catch-Up after Holiday

September 19, 2017

As Japanese markets reopened following a 3-day holiday weekend, the Nikkei-225 leaped 390 points or 2.0%, moving back up the 20K level. But other stock markets did not follow suit. Equities elsewhere in the Pacific Rim closed down 0.5% in Singapore and Taiwan, 0.3% in Hong Kong, 0.2% in China and 0.1% in Australia, New […] More

Dollar Mixed, Gold Down, and Stocks Remain Well Bid

September 18, 2017

The dollar advanced by 0.4% against the yen and sterling, 0.3% versus the yuan, and 0.1% relative to the loonie and peso but slipped 0.2% vis-a-vis the kiwi and 0.1% against the euro and Swiss franc. The Aussie currency is steady. Gold dropped 0.5%, exceeding its two-week low, and WTI crude oil fell 0.2%. Japanese […] More

Sterling Extends Rally

September 15, 2017

Sterling rose another 1.4% against the dollar overnight, at one point reaching $1.3617, which is the strongest level since the first day following last year’s Brexit referendum on June 23rd. The Bank of England has signaled that its first interest rate hike in a decade is likely to occur within a few months. It’s been […] More

Some Fresh Developments

September 14, 2017

The Bank of England’s Monetary Policy Committee did not change interest rates or asset purchase parameters but signaled a growing probability of a rate increase within a couple of months. In response, sterling rose 0.8% against the dollar, the 10-year British gilt yield climbed three basis points to 1.17%, and the Ftse stock index declined […] More

A Pause in the Action

September 13, 2017

Movements in stocks, the dollar, and sovereign debt instruments have been minor so far today especially compared to those earlier in the week. The most significant action has been a drop in copper (1.5%) and other industrial metals. The dollar slipped 0.3% against the Australian and Canadian dollars, 0.2% versus the euro and 0.1% vis-a-vis […] More

British Inflation Marching to a Faster Beat

September 12, 2017

The U.K. is not displaying the subdued inflation found in most other developed economies. The August batch of British price data revealed a 0.6% monthly advance in total consumer prices and an acceleration of its 12-month increase to 2.9% from 2.6% in both June and July. Core CPI inflation rose 0.3 percentage points (ppts) to […] More

Some Good News on This September 11th

September 11, 2017

Today is the 16th anniversary of the terrorist attacks on the World Trade Center and Pentagon that killed thousands, but there has so far been no follow-up acts of violence. On the contrary, North Korea failed to test another missile over the weekend, and property damages in Florida have apparently been less than half the […] More

Factory PMIs Released and High Hopes Regarding U.S. Jobs Report

September 1, 2017

Narrow net changes in the dollar (+/- 0.2%) characterize most key relationships. A 0.5% rise of the yuan is an exception. Solid gains in European stocks can be seen, including 0.9% in France, 0.8% in Germany, 0.6% in Italy and 0.3% in Great Britain. Indian, Chinese and Japanese stock markets rose by 0.7%, 0.2% and […] More

Firmer Dollar on this Last Day of August

August 31, 2017

The dollar climbed overnight by 0.8% against the kiwi, 0.4% relative to sterling, 0.3% versus the peso, and 0.2% vis-a-vis the euro, yen, Swissy, Canadian dollar and Australian dollar. The greenback also edged up 0.1% against the yuan. Gold dipped 0.2%. Lots of data reported today. Stocks were mixed overnight in Asia but are mostly […] More

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