Australian labor statistics

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

Central Banks, Data, and China All in the Spotlight

January 14, 2016

Following Wednesday’s U.S. stock market selloff, share prices fell 2.7% in Japan, 1.9% in Singapore, 1.6% in Australia, 1.0% in Taiwan, 0.9% in South Korea, 0.6% in New Zealand and 0.5% in Hong Kong.  Equities in Europe are currently down on the day by 3.2% in Greece, 2.8% in France, 2.7% in Germany, 2.4% in […] More

Focus on Both Data and Central Banks

December 10, 2015

The dollar showed a mixed performance overnight, falling by 1.0% and 0.6% against the Australian and New Zealand dollars, holding steady versus the yen and sterling, and rising 0.7% relative to the euro, 0.4% vis-a-vis the Swiss franc, 0.3% against the yuan and 0.1% versus the loonie. Japan’s Nikkei lost 1.3%.  Elsewhere in the Pacific Rim, […] More

Tug of War on EUR/USD

April 16, 2015

Across-the-board overnight losses in the dollar masks opposing forces on the key EUR/USD relationship. Relative to key European monies, the dollar on balance has lost 0.6% against sterling, 0.4% versus the euro and 0.2% relative to the Swiss franc. At one point, however, the dollar had retreated as far as 1.0764 against the euro but […] More

Many Central Banks Are Heard From

December 11, 2014

Even before the highly awaited U.S. retail sales report, several central bank policy announcements held the market’s attention. The Reserve Bank of New Zealand kept its official cash rate at 3.5%.  Although inflation is currently modest, it is expected to approach 2% later in the forecast period, and that will likely necessitate a further increase […] More

Australian Labor Market Shocker, Chinese Price Data, and Four Central Bank Decisions

September 11, 2014

Australian employment shot up by a record 121,000 workers in August, propelled by a 106.7K advance in part-time positions.  The Jobless rate fell for the first time since April and to 6.1% from 6.4%, while the labor participation rate climbed 0.4 percentage points to a 16-month high of 65.2%.  Analysts had projected only an 18K […] More

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