British industrial production

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

More Euro Weakness as Draghi Hails Initial Success of Quantitative Easing

March 11, 2015

The euro fell another 1.1% against the dollar overnight, touching a low of $1.0560 and bringing the cumulative year-to-date depreciation to 12.5%.  It’s become even more apparent that the real intent of quantitative easing is to substantially depreciate the external value of currency.  The Bank of Japan did that in 2013, and now it is […] More

Setback Extended in Share Prices

December 9, 2014

Monday’s slide in equities continued overnight in Europe and Asia.  Stocks slumped 4.5% in China, 2.3% in Hong Kong, 1.7% in Australia, 1.2% in India and 0.7% in Japan.  Equities are so far down 1.5% in Spain, 1.4% in Italy, 1.2% in France, 1.1% in Britain and 0.9% in Germany. Also consistent with the risk […] More

Stronger Yen and Kiwi

June 10, 2014

The dollar fell 0.1% relative to the Australian dolar, 0.2% against the yen and 0.3% versus the the kiwi but shows overnight gains of 0.3% relative to the euro and Swiss franc and 0.1% vis-a-vis the loonie and sterling.  Ten-year Japanese JGB and British gilt yields are unchanged, while the 10-year German bund has dipped […] More

Euro Weakens Further in Post-Draghi Reaction

May 9, 2014

The takeaway from yesterday’s ECB press conference is that it’s a matter of what kind of stimulus the ECB will announce next month, rather than whether something is going to be introduced then.  A big part of this preparation stems from mounting frustration with the euro’s prior appreciation and how the currency’s strength could promote […] More

Disappointing British and Chinese Data ahead of U.S. Jobs Report

January 10, 2014

British industrial production and factory output each stagnated in November, cutting the former’s 12-month rate of increase to 2.5% from 3.2%.  Construction output dropped 4.0% on month, and same-store British retail sales posted an on-year 0.4% increase last month, the smallest such gain in eight months. China’s trade surplus contracted 24% last month to $25.64 […] More

Slightly Softer Dollar and Yen

November 6, 2013

The dollar edged 0.1% higher against the yen but is otherwise down 0.5% against the kiwi, 0.4% versus the euro, 0.3% relative to the Swiss franc, sterling and Australian dollar, and 0.1% against the loonie.  The yuan is unchanged on a day that saw Chinese share prices drop 1.3%. In other stock markets, share price […] More

Difficult Tuesday for Stocks and Sovereign Debt Instruments

June 11, 2013

Markets reacted with disappointment to the Bank of Japan statement and press conference.  Investors wanted but didn’t get any new initiatives to address the rise of JGB yields since the current policy was launched a bit over two months ago.  The 1-year period for the fund-supplying operations was not extended, and Governor Kuroda explained that […] More

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