British labor statistics

Less Optimism from the World Bank about Economic Outlook

June 11, 2014

European share prices and U.S. futures have backed downward following downward revisions by the World Bank of projected 2014 growth in the world, U.S., Japan, and several emerging markets including China.  Equities show losses so far of 0.8% in Germany and Spain, 0.9% in Italy, 0.5% in Britain, and 0.7% in France.  In the Pacific […] More

Greater Investor Optimism

May 14, 2014

Hope is rising that policy steps will be taken in China to support property values. The Bank of England’s quarterly Inflation Report is not as hawkish as some were expecting.  Although projected a bigger decline in unemployment than seen in the February report, officials maintained a 3.4% 2014 growth forecast and anticipate inflation over the […] More

Lots of Data and a Better Tone in Equities

April 16, 2014

Japan’s Nikkei catapulted 3.0% higher, and stocks so far in Europe are up by 2.0% in Italy, 1.1% in Spain, 0.9% in France, 0.8% in Germany, 0.5% in Switzerland and 0.3% in Britain.  In other selected markets around the Pacific Rim, stocks gained 0.6% in Australia, 0.3% in New Zealand, 0.2% in Singapore and 0.1% […] More

Awaiting Possible New Clues from the FOMC

March 19, 2014

The FOMC decision is due at 1600 GMT and will be followed by Janet Yellen’s first press conference a half hour later. Malaysian Flight 370 is still missing, with concerns climbing it will never be found. The dollar is unchanged against the euro and kiwi, up 0.4% versus the loonie and 0.1% relative to the […] More

Weak Ezone GDP Data Sends Euro Below $1.2900

May 15, 2013

The dollar is stronger across the board, with gains of 0.8% against the Swissie, 0.6% versus the euro, 0.4% relative to the yen, loonie and Aussie dollar, 0.2% against the kiwi, and 0.1% versus the yuan and sterling. Japan’s Nikkei-225 shot up 338 points or 2.3%, closing above 15,000 for the first time since January […] More

EUR/USD above $1.3100 for First Time since May 4th

October 17, 2012

The dollar has lost 0.4% against the euro and Australian dollar, 0.3% relative to the Swiss franc and kiwi, 0.2% versus the yen and sterling, and 0.1% vis-a-vis the yuan.  The loonie is steady. After an extensive review, Moody’s did not downgrade Spain’s sovereign debt rating, which remains investment grade at Baa3.  Markets had been […] More

Dollar Continues to Retrace Earlier Gains of 2012

September 12, 2012

Germany’s Federal Constitutional Court gave a conditional green light to the permanent EU bailout fund, the ESM, and to a new fiscal pact.  This ruling removes a major impediment to the Draghi plan.  The ESM will be functional October 8.  The court said Germany’s contribution to the ESM cannot exceed EUR 190 billion without getting […] More

New Worries about Spanish Fiscal Policy

August 15, 2012

An extension of unemployment benefits in Spain raises new doubts that ECB conditions for stepped-up bond purchases will be met. Minutes from the Bank of England’s policy meeting earlier this month revealed a 9-0 vote to keep existing interest rate and asset purchase settings.  An increase of the asset purchase ceiling was considered by rejected […] More

A Foul Mood to Start the Final Eighth of 2011

November 16, 2011

Investors continue to view European prospects very dimly and to opt for low-risk assets.  This helped the dollar, yen and Japanese bonds but hurt stocks and commodities.  The ECB via the SMP program has reportedly been buying Italian and other troubled debt, but monetary officials continue to oppose expressing a readiness to engaged in “unlimited” […] More

Stocks Regroup as Markets Await Obama’s Budget Speech

April 13, 2011

Equities advanced 2.3% in India, 1.4% in China, 1.6% in South Korea, 0.9% in Japan, 1.1% in Singapore, 0.7% in Hong Kong and 0.6% in Taiwan and Malaysia.  In Europe, the German Dax, British Ftse, and Paris Cac have recovered 1.1%, 0.9% and 0.8%. The improved tone of stocks after losses earlier this week occurred […] More

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