British industrial production

A Focus on Central Banks

September 7, 2016

Money markets are discounting only a one in four likelihood that the fed funds rate gets hiked on September 21 despite hawkish remarks overnight from San Francisco Fed President John Williams, who voiced confidence in current U.S. economic conditions and opined that moving sooner is better than doing so later. The Fed’s Beige Book of […] More

Abrupt Reversal of Tuesday’s Stock Market Rally

May 11, 2016

Share prices in Europe have so far fallen Wednesday by 2.2% in Italy, 1.6% in Spain, 1.3% in Greece, 1.0% in France, 0.8% in Germany and 0.1% in the U.K.. Earlier in the Pacific Rim, stocks fell 0.7% in India, 0.4% in Hong Kong, 0.3% in Taiwan and Singapore and 0.1% in South Korea but […] More

Higher Commodity Prices Provide Some Reassurance

March 9, 2016

West Texas Intermediate crude oil rose 2.3% to $37.32 per barrel, setting a less risk averse tone for other markets. Gold fell back 1.0% to $1,249.20 per ounce. 10-year sovereign debt yields rebounded nine basis points in Japan, 7 bps in the U.K., and 3 bps in the United States and Germany. The DOW is […] More

Hope Ahead of Yellen Testimony

February 10, 2016

U.S. stock futures are higher.  Fed Chair Janet Yellen begins her semi-annual Humphrey Hawkins testimony at 15:00 GMT before the House Financial Services Committee. Many Asian markets remained closed for the Chinese New Year.  The Japanese Nikkei dropped another 2.3%, and equities fell by 1.6% in Singapore, 1.2% in Australia, 1.1% in India, 0.9% in […] More

Weaker British Pound and Russian Ruble

January 12, 2016

The dollar advanced 0.8% against sterling on a disappointing U.K. industrial output report. The dollar is 0.7% stronger against the ruble on a further 0.4% slide in oil prices.  WTI crude petroleum fell another 0.4% to $31.29 per barrel. The dollar is just 0.1% firmer against the yen, showing little reaction to a slew of […] More

Data Surprises Prompt Risk-Off Action

December 8, 2015

Share prices plunged 1.9% in China, 1.4% in Hong Kong, 1.3% in Taiwan and Indonesia, 1.0% in Japan and 0.9% in Australia.  The sour mood extended into Europe, where stocks so far have lost 4.3% in Greece, 2.2% in Italy, 2.1% in Spain, 1.6% in France, 1.7% in Germany and 0.6% in the United Kingdom. […] More

Rate Hike in the U.K. Unlikely Until 2016

August 6, 2015

Sterling fell 0.6% overnight against the dollar, which otherwise shows gains of 0.2% versus the Swiss franc and Aussie dollar but losses of 0.4% relative to the kiwi and 0.1% vis-a-vis the loonie and euro.  The yen and yuan are unchanged against the dollar. Share prices declined 1.1% in Australia, 0.9% in Indonesia and China, […] More

Focus Remains on Greece and China

July 7, 2015

There will be a summit today of eurozone leaders where the Greek government will submit its post-referendum proposal for a debt plan.  Many in the rest of Europe just want Greece to leave the common currency area, and the ECB has refused to increase Greece’s emergency aid under the ELA. Chinese share prices tumbled another […] More

Weaker Dollar, Bonds and Stocks on Fresh Wave of Risk Aversion

May 12, 2015

The dollar fell overnight by 1.2% against the Swiss franc, 1.1% versus the Australian dollar, 1.0% vis-a-a-vis the euro, 0.7% relative to sterling, and 0.6% against the kiwi.  The dollar also rose 0.2% against the loonie, held flat against the yuan and edged only 0.1% lower vis-a-vis the Japanese yen. Share prices fell 2.3% in […] More

Dollar, Yen, Equities and Gold Strengthen while Oil Declines

April 10, 2015

The dollar dipped 0.2% against the yen but otherwise shows gains of 0.7% against the euro and sterling, 0.4% relative to the Swissie and Australian dollar, 0.3% vis-a-vis the loonie and kiwi and 0.1% against the yuan. Share prices have risen 1.9% in China, 1.2% in Hong Kong, 1.4% in South Korea, 0.5% in Taiwan, […] More

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