British trade

Sterling Sinks Below $1.3000 to Monthly Low

August 9, 2016

Sovereign debt prices rose. So did stocks, oil, the yen and dollar.  Gold and industrial metal prices fell. There are holidays today in Singapore and South Africa. Today is the ninth anniversary of the onset of the U.S. subprime mortgage crisis and the 42nd anniversary of the resignation of former President Nixon. The dollar dipped […] More

Fresh Appreciation for Latest ECB Actions Spurs Market Rally

March 11, 2016

Share prices in Europe have rallied 3.1% in Germany, 4.4% in Italy, 3.3% in Spain, and 1.6% in Great Britain. Stock markets in the Pacific Rim closed up 0.3% in Australia, 0.5% in Japan, 0.2% in China and 0.4% in India. The Dow shows a current daily advance of 1.2%. West Texas Intermediate crude oil […] More

Possible Game-Changer in the Greek Debt Crisis

July 10, 2015

The latest Greek proposal of reforms for financial support contains a broad range of concessions that go beyond what Greek voters overwhelmingly rejected by referendum.  It includes such areas that were taboo until now such as higher VAT on restaurants, pension reform, labor market reform, and a corporate tax hike.  In return, Greece would get […] More

Weak Data Fuels Further Selling Pressure on Oil and Equities

October 10, 2014

Equities sold off further in Asia and Europe. The dollar is mostly higher.  Many in the U.S. are observing a 3-day weekend for the Columbus Day holiday. WTI oil dropped more than 1% to $84.55. Gold is 0.2% softer. 10-year gilt yields are five basis points lower.  10-year sovereign debt yields remain below 1.0% in […] More

Return to Risk-Off Market Psychology

July 10, 2014

European equities and bond prices were sold off pretty hard.  The yen has firmed.  Gold spiked higher, and oil continues to slide. The catalyst for this fresh wave of risk aversion was the failure of the parent company of Portugals Espirito Santo Financial to make a debt payment, but there are other causes, one being […] More

More Signs of Europe Improving

January 9, 2014

The dollar is narrowly mixed ahead of the ECB press conference.  The Bank of Korea and Bank of England already have announced unchanged policy stances.  The dollar is up 0.3% against the Australian dollar, 0.2% versus the kiwi and loonie and 0.1% relative to the yuan and yen but has eased by 0.2% against the […] More

Resumed Yen Slide Continues

May 10, 2013

The yen touched lows today of 101.75 per dollar and 132.29 per euro and is 1.1% softer against the U.S. currency than at Thursday’s close. The U.S. dollar also has risen 0.9% against the Swiss franc, 0.8% versus the kiwi, 0.7% relative to the Australian dollar, 0.3% against the euro and pound, 0.2% versus the […] More

Gloomy Report from IMF

October 9, 2012

A new World Economic Outlook with downwardly revised growth forecasts was released by the IMF.  Projected global growth in 2012 and 2013 was revised to 3.3% and 3.6% from estimates made in July of 3.5% and 3.9%.  The euro area will contract 0.4% in 2012 and rebound just 0.2% in 2013 (the latter being trimmed […] More

Uneventful Day Thus Far

March 9, 2011

The dollar has eased 0.5% against the Swiss franc, 0.2% relative to sterling, and a scant 0.1% versus the yuan and commodity currencies such as the Aussie, New Zealand and Canadian dollars.  The dollar rose 0.2% overnight against the yen with Japan’s currency not getting any lift from fiscal yearend accounting-inspired capital inflows. The 10-year […] More