British retail sales

Down Goes the British Pound

November 15, 2018

With British Prime Minister Theresa May facing a vote of no confidence and several of her cabinet ministers resigning in protest against her Brexit deal, sterling slumped 1.5% overnight against both the dollar and euro. Weak British retail sales data were also released today, showing an unexpected 0.5% on-month drop in total sales (+2.2% on […] More

Yuan Rebounds and U.S. Stocks Set to Rise Too

August 16, 2018

Equity losses early in Asia’s session were trimmed after an announcement  from China’s Minister of Commerce Wang Shouwen that China accepts the invitation from U.S. Undersecretary of the Treasury Malpass to resume trade talks. Talks broke down in June. A delegation of Chinese officials will visit the U.S. late this month for new talks, kindling […] More

Stronger Dollar, Weaker Equities, Softer Gold Price But Rebound in Oil

July 19, 2018

The dollar climbed overnight by 0.8% to a one-year high against the Chinese yuan. The greenback also gained 1.0% relative to the kiwi, 0.9% vis-a-vis the peso, 0.8% versus the Australian dollar, 0.6% against sterling, 0.5% versus the loonie and 0.3% against the euro and Swiss franc. Dollar/yen is unchanged. Stocks dropped 0.9% in Hong […] More

Turkey Attempts to Stop Lira’s Rout… Other Geopolitical Strains Simmer

May 24, 2018

The Central Bank of the Republic of Turkey hiked the late liquidity window interest rate by three full percentage points to 16.5% after the Monetary Policy Committee held an unscheduled meeting. The lira had been plunging in one-sided market conditions but rebounded over 6% following the announcement. Italian Prime Minister-Designate Conti met with party leaders, […] More

Holidays Dampen Activity… Contrasting Sentiment Continues Around Dollar and Equities

February 16, 2018

Friday saw Lunar New Year market closures in China, which won’t reopen until February 22, Taiwan, Hong Kong, Singapore, Indonesia, South Korea and Malaysia. Moreover, U.S. fixed income markets will shut early ahead of the 3-day Presidents Holiday. Canada will also be closed Monday (Family Day). Equities continue to rebound, climbing 1.2% in Japan, 1.0% […] More

A Better Market Tone

November 16, 2017

There’s been a respite from the recent slide of equities. Japan’s Nikkei closed 1.5% higher, and the German Dax and Paris Cac are up 0.5% and 0.6%. The dollar shows mixed overnight changes, with drops of 0.6% against the Swissie, 0.2% relative to the peso and sterling and 0.1% versus the loonie but upticks of […] More

Market Pessimism Intrudes

October 19, 2017

Yesterday’s stock market optimism swung into reverse. Data showing softer Chinese growth in 3Q hit the Hong Kong market, where the Hang Seng index fell 2.2%. The Spanish government of Prime Minister Rajoy invoked previously unused constitutional powers to revoke Catalonia’s autonomy. In response, stocks in Europe are down 2.2% in Greece, 1.3% in Italy, […] More

Natural Disasters, Manmade Disasters and Central Bank Meetings Top News

September 20, 2017

Puerto Rico is being hammered by a Cat 4 hurricane with 155 MPH winds. Mexico is reeling from a 7.2 magnitude earthquake that struck yesterday. Around 25o people confirmed dead. U.S. Republican senators are scrambling to pass a repeal and replace healthcare bill by monthend that’s even more dysfunctional than previous efforts. In a speech […] More

Market Moved By ECB Minutes

August 17, 2017

The “Account” of the ECB Governing Council Meeting on July 19-20 expresses concern about the euro, which has been rising in response to fundamental improvement in the economy, possibly strengthening too much, which could dull the recovery and delay a return to the inflation target. Although the risk of deflation has receded, inflation remains below […] More

Euro Strengthens With ECB in the Spotlight

July 20, 2017

The euro advanced 0.6% against the dollar and is not far beneath $1.16. The dollar otherwise climbed 0.4% relative to sterling, 0.3% versus the yen and Aussie dollar, 0.2% relative to the yuan and 0.1% versus the peso. The dollar dipped 0.1% against the Swissy and loonie. WTI crude oil rose 0.4% to $47.31 per […] More

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