China trade balance
Chinese Trade Data and Central Bank News
May 9, 2024
U.S. stock futures point to a 0.2% dip at the open, led by a sizable slump in AirBnb. Share prices closed higher in China, and Hong Kong but lower in Australia, South Korea, Taiwan, Indonesia, and Mexico. The German Dax, British Ftse and Paris CAC are moderately firmer. Ten-year sovereign debt yields climbed overnight by […] More
Large Additional Slide of the Turkish Lira
June 7, 2023
The dollar jumped 7.4% overnight against the Turkish lira. At the intra-day low of 23.1762 per USD, Turkey’s currency was 13.8% weaker than its close on May 26 just before the reelection of the autocratic President Erdogan. Against other currencies overnight, the dollar lost ground, dropping 0.7% against Australia’s currency, 0.5% versus sterling, 0.4% relative […] More
Equity Wobbles Continue
December 7, 2022
Warnack won the Georgia senatorial runoff election, giving the Democrats a narrow senate majority plus the presidency for the coming two years, but Republicans now control the U.S. House of Representatives and have a solid grip on the Supreme Court for the foreseeable future. The dollar overnight dropped 0.5% against sterling, 0.4% relative to the […] More
China Delivers Two Disappointments to Investors
November 7, 2022
Officials in China announced that for now there is to be no change in the government’s zero Covid objective, quelling rumors last week that a modification would soon be forthcoming to promote faster growth. Also China’s October trade surplus of $85.2 billion was $10 billion smaller than street estimates. A 0.7% year-on-year dip in imports […] More
Equities Tumbling Anew as Inflation and Interest Rates Climb
January 14, 2022
The dollar overnight rose 0.1% against the euro and on a weighted basis, held unchanged against the Swiss franc and sterling and fell 0.3% versus the yen. Share prices dropped 1.3% in Japan, 1.4% in South Korea, 1.1% in Australia, and 1.0% in South Korea. The German Dax and Paris Cac show losses so far […] More
Dollar and Equity Markets Extend Recoveries
December 7, 2021
Identified Covid cases in America are zeroing in on the 50 million level since the start of the pandemic, including almost 119k cases yesterday. But there has been a sense of relief in the absence so far of evidence that the Omicron Variant will be associated with higher rates of hospitalization or deaths. Investors are […] More
Global Stock Markets and Dollar Pause
November 9, 2021
The strength of equities in October and the first week of November was fed by the tapering patience of major central banks, evidence of continuing economic recovery in spite of Covid and inflation, and robust corporate earnings. But new concerns are adding to the pile. Biden’s still-unannounced choice to lead the Fed Board of Governors […] More
Generally Quiet Financial Markets This Morning
June 7, 2021
Compared to Friday closing levels, the U.S. dollar is unchanged against the yuan and euro, 0.1% softer versus the yen, loonie, Swissie and sterling, and down 0.2% relative to the Australian and New Zealand dollars. Stock markets in Asia closed down 0.5% in Hong Kong and 0.4% in Taiwan but up by 0.8% in Singapore, […] More
Investors Excited by Vaccine Trial News and U.S. Election Results
November 9, 2020
Stock markets are rallying on two pieces of news. Initial results of Pfizer’s large-scale trials of a Covid-19 vaccine have reportedly demonstrated 90% effectiveness among people without a prior condition. Donald Trump has lost his bid for a second term as president, but Republicans appear to have retained control of the senate. This combination of […] More
Covid-Related Setbacks in European Confidence, a Smaller Chinese Trade Surplus, and Another Day for Barrett Confirmation Hearings
October 13, 2020
Some risk aversion has returned to Europe. In many countries there, lockdown restrictions against Covid-19 have had to be tightened. And data reports out today reflect rising concern. For example, the ZEW expectations index of financial investor confidence toward Germany suffered a big setback this month, dropping to a five-month low of 56.1 from September’s […] More
