New Overnight Developments Abroad - Daily Update
Marginally Softer Dollar
October 14, 2020
The U.S. dollar edged down overnight by 0.3% against sterling, 0.2% relative to the Australian and New Zealand dollars, and 0.1% versus the yuan, Swiss franc and yen, while holding steady vis-a-vis the euro and loonie. The dollar price of gold firmed 0.5%. Stock markets in the Pacific Rim rose 0.9% in Indonesia, 0.7% in […] More
New Overnight Developments Abroad - Daily Update
Covid-Related Setbacks in European Confidence, a Smaller Chinese Trade Surplus, and Another Day for Barrett Confirmation Hearings
October 13, 2020
Some risk aversion has returned to Europe. In many countries there, lockdown restrictions against Covid-19 have had to be tightened. And data reports out today reflect rising concern. For example, the ZEW expectations index of financial investor confidence toward Germany suffered a big setback this month, dropping to a five-month low of 56.1 from September’s […] More
Foreign Exchange Insights and Next Week
Dollar Outlook as Election Nears
October 12, 2020
2020 has been a difficult year for America’s brand of democracy. Amid doubts that democratic practices can be relied upon to forge policies in the best common interests of the citizenry or even whether the people still want sovereignty to be vested in the people, the dollar’s main basis of support lies in its centrality […] More
New Overnight Developments Abroad - Daily Update
Rise in Dollar and Share Prices
October 12, 2020
The People’s Bank of China over the weekend slashed reserve requirements on foreign exchange deposits to zero percent in a move to counter recent strength in the yuan, which gained 0.8% overnight. The move also buoyed China’s stock market by 2.6%. Other dollar gains overnight amount to 0.7% versus the Mexican peso, 0.4% relative to […] More
Uncategorized
Next Week’s Menu: October 10-16, 2020
October 9, 2020
Central Banks: Monetary policies will be reviewed in Indonesia, Singapore, Chile, South Korea, and Sri Lanka. The Fed Beige Book of regional U.S. economic conditions will be published. Events and Holidays: A Biden-Trump scheduled debate originally scheduled this week has been cancelled. There will be a meeting of the European Council Thursday and Friday, and […] More
New Overnight Developments Abroad - Daily Update
Cautious Optimism on a Couple of Fronts
October 9, 2020
The reopening of Chinese markets after the Golden Week holiday say the yuan advance 1.3%, reflecting ongoing strength in its offshore value, and China’s stock market advance 1.7%. The dollar also fell overnight by 0.6% against the Swiss franc, 0.5% relative to the kiwi and Mexican peso, 0.4% versus the euro, 0.3% vis-a-vis the Australian […] More
New Overnight Developments Abroad - Daily Update
The Debate, Central Bank News, and More Data to Digest
October 8, 2020
Any reaction to the single U.S. vice presidential debate last night has already been squashed by just-breaking news regarding the second presidential debate scheduled for October 15th in Miami. The debate commission decided that debate should be held virtually rather than in person inasmuch as President Trump and many of his advisers have Covid, and […] More
New Overnight Developments Abroad - Daily Update
Trump on Steroids Has People on Edge and Unsure What Happens Next
October 7, 2020
President Trump returned from the hospital unrepentant and as erratic as ever. His major pronouncement on Tuesday — a unilateral postponement of stimulus talks until after the election — was seemingly reversed by an overnight tweet expressing a desire for a simplified “stand alone” bill. He downplayed the coronavirus threat and claimed to feel 20 […] More
New Overnight Developments Abroad - Daily Update
Stocks Up, Dollar Marginally Lower, and Trump Out of the Hospital
October 6, 2020
Share prices overnight rose 1.5% in India, 1.2% in Taiwan, 0.8% in Indonesia, and 0.5% in Japan. Markets have also climbed 0.7% in New Zealand and 0.3% in Australia. In Europe so far, equities have risen 1.0% in Spain, 0.8% in Italy , 0.5% in France, 0.3% in Germany but just 0.1% in Great Britain. […] More
New Overnight Developments Abroad - Daily Update
Dollar Down Amid Worries about the President’s Medical Condition
October 5, 2020
Medical reports on President Trump have been opaque and not entirely truthful. He’s been put on steroids and other meds consistent with a possibly serious case of Covid-19. Today’s other attention-grabbing news has been reported progress in talks between the EU and U.K. over a post-Brexit trade arrangement. The dollar fell overnight by 0.9% against […] More
