British labor statistics
Softer Dollar Ahead of U.S. CPI Release
June 13, 2023
The dollar in overnight trading lost 0.5% against sterling, 0.4% versus the euro and Aussie dollar, and 0.3% relative to the Swiss franc. Alternatively, the dollar touched a fresh record high of 24.106 Turkish lira but subsequently unwound the incremental gain and a tad more. Much is riding on today’s U.S. CPI figures, which analysts […] More
Chinese Data Greeted With Muted Market Reaction
January 17, 2023
A large menu of Chinese data releases proved not as weak as expected, but can the figures claimed by Beijing officials be believed as accurate? The muted reaction of investors suggests not. Chinese real GDP stagnated last quarter. Analysts were looking for a quarterly contraction of about 1% and consequently weren’t expecting year-on-year growth of […] More
Stagflation Breezes this Ides of March
March 15, 2022
Concerns that China will pay a price for supporting Russia’s invasion of Ukraine led to a huge rout in the Shanghai equity exchange, which tumbled 5.6% today, as in its vassal Hong Kong, the Hang Seng plunged by a similar 5.7%. Equities also closed down 2.0% in Taiwan, 1.3% in India and 0.7% in Australia. […] More
Data Mix of Elevated Inflation Despite Moderating Growth
October 12, 2021
Today’s menu of price data around the world revealed The highest rate of Japanese domestic producer price inflation (6.3%) since September 2008 and also a larger 31.3% year-on-year leap in import prices. The steepest on-year jump in German wholesale prices (13.2%) since June 1974. As then, energy played a prominent role in the spike. The […] More
Equities Retreat Additionally; Dollar Flattens
April 20, 2021
Monday’s drop in share prices has been extended amid concerns about the pandemic and higher inflation. Stocks closed down 2.0% in Japan, 0.7% in Australia and New Zealand, 0.6% in Singapore and 0.1% in China. Losses so far in Europe range between 0.8% and 2.0% in Switzerland, Germany, the U.K., France, Italy and Spain, and […] More
Dollar Strengthens on Comparatively Better U.S. Economic and Vaccine Deployment Outlook
March 23, 2021
The dollar advanced broadly overnight by 1.8% against the New Zealand dollar, 1.4% relative to the Turkish lira, 1.0% versus the Australian dollar, 0.7% against the Mexican peso, 0.6% vis-a-vis the Swiss franc and sterling, 0.5% against the euro and 0.4% versus the Canadian dollar and on a trade-weighted basis. Investors are awaiting today’s releases of […] More
Investors Watching U.S. Earnings Reports and Awaiting FOMC Meeting Results
January 26, 2021
There continued to be a lack of definitive market direction on Tuesday. A two-day policy review by the Federal Open Market begins today. In Congress, members of the House of Representatives delivered their impeachment edict to the senate, but a trial will not begin in earnest until February 9 in order to allow confirmation of […] More
Electoral College Honors Voters’ Choice and Picks Biden; Data Focus on China
December 15, 2020
The dollar is little changed today. It’s biggest move, a 0.4% decline against sterling, comes as trade talks were extended past the deadline and as British labor market data revealed a full return of average wage earnings growth to the pre-pandemic pace but also a larger-than-forecast 64.3k jump in jobless insurance claims due to a […] More
Covid-Related Setbacks in European Confidence, a Smaller Chinese Trade Surplus, and Another Day for Barrett Confirmation Hearings
October 13, 2020
Some risk aversion has returned to Europe. In many countries there, lockdown restrictions against Covid-19 have had to be tightened. And data reports out today reflect rising concern. For example, the ZEW expectations index of financial investor confidence toward Germany suffered a big setback this month, dropping to a five-month low of 56.1 from September’s […] More
Further Erosion of Dollar’s Value
September 15, 2020
The dollar dropped 0.6% to a 16-month low against the Chinese yuan overnight and also lost 0.5% relative to the Australian dollar, 0.4% vis-a-vis the Mexican peso, 0.3% versus the kiwi, Swiss franc, loonie, euro and sterling, as well as 0.1% against Japan’s yen. The latest declines bring the dollar’s trade-weighted depreciation over the past […] More
