Australian labor statistics
Stocks Recover Further, While Bond Prices and Dollar Move Lower
February 15, 2018
Japan’s Nikkei jumped 1.5%. A number of other Asian markets (China, Taiwan, Hong Kong, and Singapore did not open because of the Lunar New Year holiday. Share prices in Europe are so far up today by 1.5% in France and Greece, 1.0% in Italy, 0.8% in Spain, 0.7% in Germany and 0.6% in the U.K.. […] More
A Better Market Tone
November 16, 2017
There’s been a respite from the recent slide of equities. Japan’s Nikkei closed 1.5% higher, and the German Dax and Paris Cac are up 0.5% and 0.6%. The dollar shows mixed overnight changes, with drops of 0.6% against the Swissie, 0.2% relative to the peso and sterling and 0.1% versus the loonie but upticks of […] More
Euro Strengthens With ECB in the Spotlight
July 20, 2017
The euro advanced 0.6% against the dollar and is not far beneath $1.16. The dollar otherwise climbed 0.4% relative to sterling, 0.3% versus the yen and Aussie dollar, 0.2% relative to the yuan and 0.1% versus the peso. The dollar dipped 0.1% against the Swissy and loonie. WTI crude oil rose 0.4% to $47.31 per […] More
Investors Remain Very Risk Averse and Driven by Politics, Not Data
May 18, 2017
Sovereign debt yields continue to fall. In futures, the 10-year Treasury yield of 2.19% is down four more basis points and shows a 22-basis point plunge since the May 10th close. Comparable German bund and British gilt yields fell six and 3 basis points thus far today. The Japanese JGB is unchanged after data showing […] More
Markets React to ECB Minutes
February 16, 2017
Published minutes from the last ECB meeting (known as the ECB Account) allayed concerns that the recent spike in inflation to around the central bank’s target would not lead to an abandonment of the current easy stance. The rise of headline inflation was caused by energy and shows no visible sign of indirect or second […] More
Broad Financial Market Adjustments Intensify in Wake of FOMC Meeting
December 15, 2016
The dollar gained overnight by another 2.0% against the Australian dollar, 1.5% versus the euro, 1.6% vis-a-vis the kiwi, 1.2% relative to the yen, 0.9% against sterling, and 0.6% versus the yuan. Key levels are being approached such as parity with the euro, 120 yen, and 7 renminbi. Throughout the 8-year Obama stewardship, Republicans fought […] More
Markets Wonder What Yellen Will Say Today
November 17, 2016
Thursday is being dominated by Fed Chair Yellen’s morning testimony before the Joint Economic Committee of Congress. It will be her first remarks since Donald Trump was elected president on an agenda of more stimulative fiscal policy. She will not doubt be asked how such might affect the trajectory of central bank interest rates. Other […] More
Awaiting the ECB Meeting Decision and Press Conference
October 20, 2016
EUR/USD is unchanged ahead of the ECB announcement. A policy change is not expected. Central bank policymakers also reviewed stances in Turkey and Indonesia. The dollar has strengthened 0.3% against the yen. Japan’s Nikkei closed 1.4% higher, while the German Dax is up 0.3%. WTI oil settled back 1.0% to $51.07 per barrel. Comex gold […] More
Some Investor Caution Returns
April 14, 2016
Yesterday’s stock market rally carried into Asia but not Europe. Share prices rose 3.2% in Japan, 1.3% in Australia, 1.8% in South Korea, 1.9% in India and 0.5% in China. Equities in Europe have settled back 0.7% in Greece, 0.4% in Spain and Italy, and 0.1% in the U.K. and France. The German Dax is […] More
Expressions of Concern
February 18, 2016
St. Louis Fed President Bullard, who had previously been urging interest rate normalization, gave a speech warning that further rate hikes would be risky in light of the continuing decline of market-based indicators of expected inflation and because a buildup of unhealthy asset bubbles has become less probable. A member of the Bank of Japan’s […] More
