British GDP

Sterling Rebounds and Streak Ends of Higher Daily Closes in Japan’s Stock Market

October 25, 2017

Sterling rose 0.9% overnight, buoyed by stronger-than-forecast third-quarter GDP growth. Xi Jinping introduced the new Chinese Politboro, all with similar ages to himself, and in so doing failed to signal an apparent successor in 2022. He is now China’s most powerful leader since Mao. Japan’s Nikkei closed down 0.5%. That was the first daily loss […] More

Marking Time Ahead of the Jackson Hole Central Banking Symposium

August 24, 2017

The annual retreat of world central bankers in Northwest Wyoming kicks off this evening and runs through Saturday. This year’s conference topic is “Fostering a Dynamic Global Economy.” Fed Chair Yellen delivers a speech on financial stability at 14:00 GMT Friday. ECB President Draghi’s scheduled speech five hours later is attracting even more interest. Meantime, […] More

Flood of Data on Final Business Day of April

April 28, 2017

The dollar is mixed, with declines of 0.6% against the euro, 0.3% relative to the peso and Swiss franc and 0.2% vis-a-vis sterling but gains of 0.3% versus the yen, 0.2% against the kiwi and 0.1% relative to the loonie. The Aussie dollar and Chinese yuan are unchanged. Stocks are generally lower. The German bund […] More

Dollar Bounces Higher

January 26, 2017

The dollar recovered 0.8% overnight against the yen and and is up 0.4% relative to the Canadian, Australian and New Zealand dollars. The greenback rose 0.2% versus the euro but slipped 0.2% against the Swissie. The yuan is unchanged, and the Mexican peso rebounded 0.3% as President Nieto said his country will not pay for […] More

Sovereign Debt Yields Lower on Last Business Day Before Christmas

December 23, 2016

Ten-year sovereign debt yields retreated four basis points in Germany and Italy, three bps in U.K., France and Canada and two bps in the United States. Japan’s market is shut to commemorate the Emperor’s birthday. The dollar slipped 0.2% overnight against the euro and yen but climbed against commodity-sensitive currencies and sterling. The greenback is […] More

Bond Selloff Gathers Impetus

October 27, 2016

Investor caution has shifted from stocks to bonds. Dollar changes against currencies of other advanced economies have been limited. Several emerging market currencies — e.g. the rand and won — have depreciated. Economic data released today have generally accentuated the positive. The dollar lost 0.2% against the euro overnight and 0.1% relative to the loonie […] More

Deluge of Politics and Economics at Midyear

June 30, 2016

Today’s Brexit bombshell is that the Leave movement’s leader, Boris Johnson, pulled out of the running to be Britain’s next prime minister and the person to decide when to invoke Article 50 of the Lisbon Treaty, which guides the unprecedented countdown for exiting the European Union. ┬áJohnson’s decision presumably will further delay what happens from […] More

Firmer Commodity Prices

May 26, 2016

Crude oil (+0.7%) and a wide spectrum of industrial metal prices firmed overnight.  WTI touched a high of $49.97 per barrel, and brent surpassed $50.00. St. Louis Fed President James Bullard is the latest Fed official to indicate that a June interest rate hike may be in play.  He spoke of tightening U.S. labor market […] More

Big Drop in Chinese Share Prices Doesn’t Set Today’s Global Market Tone

February 25, 2016

China’s Shanghai Composite index plunged 6.4% this Thursday after a sharp rise in overnight money rates there. But elsewhere, stocks climbed 1.4% in Japan, 1.0% in Taiwan, 0.3% in South Korea and in Europe now show gains of 3.2% in Greece, 2.6% in Spain, 2.3% in Italy, 2.4% in the U.K., 2.3% in France, 1.6% […] More

Lots of Data to Process

August 28, 2015

The last Friday of August brought forth an exhausting ton of released data:  Japanese consumer prices, retail sales, household spending and income, and unemployment; also eurozone sentiment, German consumer prices, French producer prices, Italian wages, consumer confidence and business sentiment, Spanish CPI and retail sales, Swedish GDP, Greek GDP, Swiss GDP, Brazilian GDP, Polish GDP, […] More

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