Chinese economic data

Commodity Prices Strengthen, Dollar and Yen Fall

May 15, 2017

Over the weekend, Saudi Arabia and Russia agreed to extend their previously negotiated oil production cut to the end of the first quarter of next year. Finance ministers and central bank chiefs releases a statement after two days of talks in Bari, Italy. See review. IT made some progress combating Friday’s global cyber attack, but tens of […] More

Weaker-than-Expected Chinese Data and a Rise in Oil Prices

May 16, 2016

In April, Chinese M2 money grew 12.8% on year, down from 13.4% in March and a recent high of 14.1% in January.  The 12-month increase in industrial production and retail sales slowed to 6.0% and 10.1% from 6.8% and 10.5% in March.  Fixed asset investment in the first four months of 2016 was 10.5% greater […] More

Several Central Bank Rate Cuts and Data Surprises Lift Dollar

June 11, 2015

The U.S. dollar leaped 2.8% against its New Zealand counterpart and also rose overnight by 0.9% against the yen, 0.6% relative to the euro, 0.4% versus the loonie, Aussie dollar and sterling, and 0.3% vis-a-vis the Swiss franc.  Chinese officials held the yuan steady. The Reserve Bank of New Zealand’s Official Cash Rate was sliced […] More

Many Competing Stories but a Unifying Theme is Better Growth in Europe by a Slower Trend Elsewhere

April 15, 2015

ECB President Draghi is wrapping up his press conference.  Policy wasn’t changed further.  Focus is currently on full implementation of policy initiatives taken recently.  Draghi finds the favorable impact of quantitative easing to be impressive: real interest rates have fallen as expected inflation is rising.  An important new sentence in the released statement explains what […] More

European Share Prices Significantly Lower… And Oil Off Another 1.3% to $59.10

December 12, 2014

Equities have fallen 1.6% in Paris, 1.4% in Madrid, Milan and Zurich, 1.5% in London and 1.2% in Frankfurt.  Stocks closed down 0.9% in India, 0.3% in Hong Kong and 0.2% in Australia but rose 0.7% in Japan, 0.3% in China and South Korea, and 0.2% in New Zealand, Singapore and Taiwan. Key sovereign debt […] More

Disappointing Chinese Data and an Italian Debt Downgrade

March 11, 2013

On Friday, Fitch downgraded the rating on Italian sovereign Italian debt to BBB+ from A-. Over the weekend, China released a disappointing mix of economic figures. CPI inflation accelerated from 2.0% in January to 3.2% in February, most since April 2012. A 12.3% on-year rise of retail sales last month was the least in a […] More

Share Prices Higher Despite Skepticism about Bailout for Spanish Banks

June 11, 2012

Equities advanced 2.4% in Hong Kong, 2.0% in Japan and Spain, 1.8% in Singapore, 1.6% in the Philippines, 1.7% in Taiwan, 1.3% in China, and 1.1% in Indonesia.  The German Dax, Paris Cac, and British Ftse are up by 1.7%, 1.2% and 0.7%.  Australia’s market was closed for the Queen’s Birthday.  U.S. stocks were essentially […] More

Another Ugly Day in the Marketplace Thanks to Europe

November 9, 2011

The embattled Italian Prime Minister Berlusconi agreed to resign once budget cuts and economic reforms are approved by parliament.  Nevertheless, Italian sovereign debt yields are sharply higher.  The five-year advanced to a crippling 7.14%, and the 10-year spread versus German bunds widened to as much as 536 basis points.  Italian elections are likely in February, […] More

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