British retail sales

Markets Wonder What Yellen Will Say Today

November 17, 2016

Thursday is being dominated by Fed Chair Yellen’s morning testimony before the Joint Economic Committee of Congress. It will be her first remarks since Donald Trump was elected president on an agenda of more stimulative fiscal policy. She will not doubt be asked how such might affect the trajectory of central bank interest rates. Other […] More

Central Bank Decisions in the U.K., Ukraine and Switzerland.. Now Awaiting U.S. Data

September 15, 2016

The Bank of England left monetary policy unchanged, acknowledged better-than-expected short-term U.K. indicators since the August meeting, but left the door open to a possible further interest rate cut. The National Bank of Ukraine reduced its policy interest rate by 50 basis points to 15.0% and indicated likely further easing if and as inflation recedes. […] More

Pick-Up in Flow of Data Creates New Trading Incentives

August 18, 2016

Wednesday had seen a lull in statistical releases and a commensurate lackluster trading day. Thursday’s been a more interesting day from both vantage points. Released figures include Japanese trade and machine tool orders, Euroland consumer prices, current account and construction output, British retail sales, Australian labor statistics, and Chinese property prices. Investors also are reacting […] More

People and U.S. Data Making News

July 21, 2016

At the Republican National Convention in Cleveland, Texas Senator Ted Cruz shocked the crowd by not endorsing Donald Trump for president and was booed for his disloyalty.  Indiana Governor Mike Pence gave a more effective VP nomination speech than had been expected, but the broad picture is one of tensions within the GOP.  Donald Trump speaks […] More

Eroded Confidence in Central Banks

June 16, 2016

The yen leaped as high as 103.55 per dollar from 105.95 at the Wednesday close following the Bank of Japan’s decision not to change policy settings at its June meeting.  The Nikkei tumbled 3.1% to 15,434, and the 10-year JGB yield is at -0.21%. Investors were bummed out by Janet Yellen’s press conference yesterday.  While […] More

FOMC Minutes and a Missing Plane Rattle Market Nerves

May 19, 2016

A wide range of commodities have dropped sharply, including overnight declines of 1.5% in gold, 1.9% in oil and over 2.0% in copper. Stocks and bonds also suffered. Share prices dropped 1.3% in New Zealand and Singapore, 1.2% in India, 1.0% in Hong Kong, 0.8% in Taiwan, 0.6% in Indonesia and Australia, and 0.5% in […] More

A Focus on Central Banks, Commodities and China

April 21, 2016

The ECB just announced  decisions from today’s third Governing Council meeting of the year.  No further rate changes were enacted.  At the prior meeting on March 10, the refinancing rate was sliced 5 basis points to 0.0%, the deposit rate was moved 10 basis points more deeply into the red to -0.40%, and the marginal […] More

Investor Sentiment Spooked by Fed Official Rhetoric

March 24, 2016

Led by oil, commodity prices have dropped.  West Texas Intermediate crude oil dropped 2.5% to $38.81 per barrel after indications of rising U.S. inventories.  Comex gold edged 0.1% lower to $1,218.83 per ounce. The Shanghai Composite index of Chinese share prices fell 1.6%, most in two weeks.  Equities closed down 1.3% in Hong Kong, 1.1% […] More

Friday Down-Note to End an Up Week

February 19, 2016

Stock markets and sovereign debt yields overnight followed oil lower. West Texas Intermediate crude oil fell 1.8% to $30.23 per barrel. Ten-year British gilts, German bunds, and Japanese JGB yields dropped by six, two and one basis points. The Japanese Nikkei-225 slumped 1.4%, slipping back under the 16K level. Elsewhere in the Pacific Basin, share […] More

Many Factors for Investors to Digest

June 18, 2015

After the Fed’s decision and press conference, the dollar and sovereign debt yields fell, while share prices and commodities rose.  The dollar lost further ground overnight, dropping 1.0% against the Australian dollar, 0.7% versus the yen, 0.6% vis-a-vis the loonie, euro and Swissie, and 0.5% relative to sterling.  Against the pattern, the dollar also rose […] More

css.php