Chinese GDP
Investors Remain on Edge
October 19, 2018
China reported the lowest on-year GDP growth (6.5% in 3Q) since the first quarter of 2009. Damning evidence continues to mount that the highest levels of the Saudi government were complicit in the likely death of dissident journalist Khashoggi. U.S. Treasury Secretary Mnuchin upcoming trip to Saudi Arabia was cancelled. Two Fed officials, Governor Quarles […] More
Dollar Eases a Tad In Spite of Divergent Reported Data
July 16, 2018
The dollar declined 0.6% against the peso, 0.4% versus the Swiss franc, 0.2% relative to the euro, kiwi, loonie and sterling, and 0.1% vis-a-vis the yuan and Australian dollar. With Japanese markets closed for Marine Day, the dollar remained unchanged against the yen. Stocks in the Pacific Rim declined 0.9% in Singapore, 0.7% in Indonesia, […] More
Some Data Surprises
April 17, 2018
There’s been a surprisingly large downward revision in Japanese industrial production during February from an increase of 4.1% reported initially to a zero percent month-on-month change. That flat performance follows a 3.1% drop recorded in January and left output just 1.6% higher than a year earlier. By comparison, industrial production posted a 4.3% on-year advance […] More
Dollar Down Marginally Even as 10-Year Treasury Yield Rises to 10-Month High
January 18, 2018
Released Chinese data were close to expectations. Real GDP grew 1.6% on quarter in 4Q, least in three quarters, but an on-year advance of 6.8% matched the 3Q result. Real economic growth in 2017 of 6.9% exceeded 2016’s 6.7% pace, marking the first calendar year acceleration since 10.6% in 2010 after 9.4% in 2009. Property […] 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
Better-than-Forecast Chinese Data Tops a Light Start to the Week
July 17, 2017
Despite slight appreciation overnight, the dollar remains at rather soft levels such as 1.1445 per euro and JPY 112.60. Commodity prices are somewhat firmer. WTI oil, for instance, rose 0.4%, and Comex gold is up 0.2%. But commodity-sensitive currencies have dipped. The Canadian and Australian dollars softened 0.1% and 0.2%. The kiwi lost 0.3%, responding […] More
Important Developments on Easter Monday
April 17, 2017
A slew of markets remained closed including the U.K., Australia, New Zealand, Germany, France, Italy, Spain, Portugal, Belgium, The Netherlands, Greece, Switzerland, Hong Kong, South Africa, Sweden, Denmark, Norway, and Hungary. A Turkish referendum over the weekend has given President Erdogan sweeping additional powers. The lira appreciated initially more than 2.0% in response. North Korea’s […] More
China Releases a Whole Lot of Data as World Awaits Trump’s Inauguration
January 20, 2017
At 17:00 GMT (noon EST), Donald J. Trump will officially become the 45th president of the United States. The dollar rose overnight by 0.6% against the New Zealand dollar, 0.4% versus the loonie, 0.3% relative to the Aussie dollar, yen and sterling, 0.2% vis-a-vis the euro and peson, and 0.1% against the yuan and Swiss […] More
Oil Price Rally Continued
October 19, 2016
West Texas Intermediate crude oil, which traded at $43.30 per barrel just a month ago, rose another 1.5% overnight to $51.02 per barrel. Investors are reasonably confident that OPEC will find the discipline with Russia to reach an accord limiting production. Comex gold advanced 0.7% to $1,271.50 per troy ounce, and the dollar is modestly […] More
Upbeat Chinese and U.S. Data Overshadow the Terrorist Attack in Nice
July 15, 2016
Chinese GDP, retail sales, and industrial production exceeded analyst expectations and suggest that economy’s slowdown is leveling off. Real GDP growth accelerated to a quarter-on-quarter increase of 1.8% in the second quarter, keeping on-year growth steady at 6.7% instead of slowing further as analysts were expecting. Industrial production posted a 6.2% on-year advance in June […] More
