New Overnight Developments Abroad - Daily Update

U.S. Political Stress, PMI Services, A U.S. Jobs Report Shocker, and FOMC Minutes on Today’s Radar Screen

January 6, 2021

In the Georgian senate runoff elections, Warnock has apparently beaten his Republican opponent, and Ossoff holds a razor-thin 50.2%/49.8% lead over the Republican incumbent with 98% of ballots counted. If these leads hold, Democrats would take over the senate majority. The congress is scheduled to tally the state certified presidential electoral voting results this afternoon […] More

Deeper Analysis

December Sees Largest U.S. Versus Ezone Manufacturing Sector Advantage Since April

January 5, 2021

The announced existence of effective Covid vaccines lifted conditions faced by manufacturers in both the United States and Euroland in December. U.S. conditions according to the Institute of Supply Management improved by 3.2 index points to a 28-month high of 60.7. Euroland’s IHS-compiled manufacturing survey index rose 1.4 points to a 31-month high of 55.2, […] More

New Overnight Developments Abroad - Daily Update

Big Stakes in Today’s Georgian Senate Votes: Investors Await Outcome

January 5, 2021

Polls close at 19:00 EST (midnight GMT) in Georgia where both senate seats are being contested today in runoff elections. Democrats need to win each seat in order to control the senate and oust Mitch McConnell as the upper chamber’s gatekeeper to all legislation. The outcome is uncertain and awaited by investors. Stock markets, where […] More

New Overnight Developments Abroad - Daily Update

2021 Starting the Way 2020 Ended

January 4, 2021

The dollar fell 1.0% against the yuan, 0.7% versus the euro, Swiss franc and Mexican peso, and hit multi-year lows against several currencies. Share price futures point to a higher open in U.S. equity trading after the New Year’s Day holiday. Stock markets rose 2.1% in Indonesia, 2.5% in South Korea, 1.2% in Taiwan, and […] More

Foreign Exchange Insights and Next Week

Coming Week’s Menu: January 2- 8, 2021

January 2, 2021

Holiday’s and Special Events: New Zealand remains closed Monday for the New Year’s Day holiday, and Italians observe Epiphany Day on Wednesday. Also on Wednesday, Georgian voters will select each of their two senators, which in turn will decide party control of the upper chamber of the U.S. Congress. Separately on Wednesday, the senate will […] More

Deeper Analysis

December and 2020 in Figures

January 1, 2021

During 2020, the federal funds was slashed 150 basis points, the Bank of England base rate was cut 65 basis points, but benchmarks at the European Central Bank, Swiss National Bank and Bank of Japan were already very low and didn’t fall additionally. Sovereign debt yields in 2020 fell a whole lot more in the […] More

New Overnight Developments Abroad - Daily Update

Continuing Divergent Trends in Dollar and Share Prices

December 31, 2020

On this final day of 2020 with many markets already shut, the dollar is trading at the year’s lows, and many stock markets are at record or multi-year highs. Closures include much of Continental Europe, Japan, Australia, New Zealand, South Korea, and Hong Kong. The trade-weighted dollar set a fresh 2020 low of 89.51, 13% […] More

New Overnight Developments Abroad - Daily Update

Dollar Ending 2020 at Year’s Weakest Point

December 30, 2020

The trade-weighted DXY dollar index hit a new 32-month low today of 89.68, some 13% below the year’s high last March. Overnight losses amounted to 0.8% relative to the Australian dollar and sterling, 0.7% versus the New Zealand dollar, 0.5% against the yen, 0.4% vis-a-vis the Mexican peso, 0.3% against the Canadian dollar, 0.2% versus […] More

New Overnight Developments Abroad - Daily Update

Softer Dollar and Rising Equities as Yearend Approaches

December 29, 2020

The dollar fell broadly but only moderately overnight. It lost 0.7% against the Mexican peso, 0.5% relative to the New Zealand dollar, 0.4% versus the euro and Australian currency, 0.3% against the Swiss franc, Canadian dollar and sterling, 0.2% relative to the yen and 0.1% against the yuan. The euro at $1.2259 is just 14 […] More

New Overnight Developments Abroad - Daily Update

Stock Markets and Bitcoin Rise in First Post-Xmas Trading; Dollar Weak but Steady

December 28, 2020

After threatening not to sign the $900 billion U.S. pandemic relief package that extends extra jobless benefits and continues the half on shelter evictions, President Trump did sign the bill over the weekend. A possible federal government shutdown has been averted. Markets remain closed today (Boxing Day) in the U.K., Australia, New Zealand and Canada. […] More