Australian wage costs

Covid News Proceeding on Two Tracks, While Dollar Slipping but Slows

November 18, 2020

There’s been more good news regarding Covid vaccine developments as Pfizer’s product, like Moderna’s, has been shown to be 95% effective. Before vaccines can be distributed widely, however, current spikes in cases and deaths point to a very difficult winter ahead for public health and economic activity. New U.S. cases and deaths yesterday approached 160,000 […] More

Cheaper Dollar as U.S. Political Surprises Mount

May 17, 2017

The dollar fell overnight by 0.7% against the yen, 0.4% relative to the euro, Swiss franc and sterling, and 0.1% versus the kiwi. The dollar alternatively rose 0.4% against the peso, 0.3% versus the Aussie dollar, ad 0.2% relative to the loonie. Ten year German bund and British gilt yields are two basis points lower, […] More

Broad Dollar Gains and Sovereign Debt Price Losses… Oil Lower Too

November 16, 2016

Nothing about the Donald Trump phenomenon is playing out as pundits expected. The political talking heads repeatedly underestimated his victory chances through the Republican primaries and general election. And now market developments are fooling the economic prognosticators. The dollar is super-charged, rising overnight by 1.7% against the ruble, 1.2% against the Australian dollar and Polish […] More

Positive Reaction to Tuesday’s Yellen Testimony and China Reopens

February 25, 2015

Today is a quiet day from a data-release standpoint, so investors will be looking to testimonies by Fed Chairperson Yellen and ECB President Draghi for direction.  Yellen reprises yesterday’s Humphrey-Hawkins semiannual appearance before congress, this time testifying to the House Financial Services Committee.  Draghi will be speaking before the EU parliament.  The ECB took a […] More

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