British labor statistics

Dollar Climbs Further

October 18, 2017

The dollar was buoyed by negative European factors (Catalonia, Brexit and a weak construction output report) and expectations of a widening U.S. interest rate premium. Yellen is generally expected not to be reappointed as Fed Chair, and that suggests a steeper incline in the federal funds target especially if U.S. tax reform is enacted. The […] More

Lots of U.S. Data and a Yellen Press Conference This Ides of March

March 15, 2017

The Federal Reserve will release new macroeconomic forecasts and  is expected to raise the fed funds target at 18:00 GMT, and the press conference begins a half hour later. The dollar softened overnight by 0.6% against the peso, 0.5% versus sterling, 0.4% relative to the New Zealand and Australian dollars, 0.3% vis-a-vis the loonie and […] 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

Dollar Little Affected by Risk Aversion in Other Markets

April 20, 2016

Stocks in China, Hong Kong and Taiwan slumped 2.3%, 1.5%, and 1.4%.  A Chinese central bank official implied lessening inclination to ease. West Texas Intermediate crude oil dropped 2.3% to $40.14 per barrel on news that Kuwaiti workers called off their strike. The 10-year Japanese JGB yield dipped another basis point to a record low […] More

Mixed Chinese Data on a Holiday-Dampened Wednesday

November 11, 2015

The Armistice ending the First World War was reached 97 years ago today.  Markets in the U.S. (Veterans Day), France (Armistice Day) and Canada (Remembrance Day) are shut. China reported October industrial production, retail sales, fixed asset investment, and net foreign direct investment statistics. A 5.6% on-year rise in industrial production was the smallest gain […] More

New Zealand Dollar Volatility and Some Interesting Data Reports

October 14, 2015

A speech by Governor Wheeler of the Reserve Bank of New Zealand whip-sawed the kiwi.  The currency initially fell 0.4% to as low as USD 0.6619 when the central bank head indicated that the Official Cash Rate probably will fall further, contingent on future economic news, but it then roared back to USD 0.6726, a […] More

China Stocks Up, OECD Growth Forecasts Revised, and U.S. and Eurozone CPI Data Released

September 16, 2015

A 5% jump in China’s stock market led equities higher overnight, with other gains amounting to 2.3% in Hong Kong, 2.0% in South Korea, 1.6% in Australia, 1.0% in India, 0.8% in Japan, 0.9% in Taiwan, and so far 1.5% in Spain, 1.0% in Italy, 2.1% in Greece, 0.7% in Germany, 0.8% in Switzerland, and […] More

Yuan Decline Triggers Fresh Drop in Global Equities and Sovereign Debt Yields

August 12, 2015

The yuan fell by a further 0.9% against the dollar to 6.38, and in Hong Kong offshore trading the quote sank to 6.552.  Chinese central bank officials played down the development as a temporary adjustment to the new pricing system that will be more heavily influenced by market forces.  They asserted that economic fundamentals do […] More

Large Setback in European Share Prices

April 17, 2015

Markets are hedging against the once-unthinkable possibilities of a Greek debt default or Greece leaving the common European currency area or both, and there is fear that the consequences will not hit Greece alone. Share prices have dropped by 2.2% in Italy, 2.1% in Spain, 1.9% in Germany, 1.4% in France, 1.2% in Greece and […] More

Some Optimism about Greek Talks

February 18, 2015

An anonymous officials claims Greece will request an extension of the bailout program, but the devil is in the details.  Germany suspects a semantic shift only and wants assurances that Greece is prepared to continue the mandated austerity.  The situation is murky, but markets have today been inclined to assume an optimistic outcome rather than […] More

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