Chinese GDP

Brexit Headed for Photo Finnish and a Lot of Chinese Data Released

October 18, 2019

A debate and vote on British Prime Minister Johnson’s deal with the EU is scheduled Saturday. He needs 318 yes votes for approval, and the outcome figures to be very close to that threshold. Johnson needs only a simple majority win. In a more perfectly designed political system of self-governance, a decision with such profound […] More

Bunch of Chinese Data Releases to Start the Week

July 15, 2019

Financial market activity was muted as July’s third week got under way. Japan was closed for Marine Day. The dollar is unchanged from Friday closing levels against the yen and euro. The greenback has slipped 0.4% versus the kiwi, 0.2% relative to the Australian dollar and by 0.1% vis-a-vis the yuan, Swiss franc, peso, and […] More

Continuing Move Into Riskier Assets

April 17, 2019

Share prices in Europe and Asia mostly rose. So did 10-year sovereign debt yields and the price of oil. The dollar is unchanged on net against the yen and sterling. The greenback lost 0.5% against the Canadian dollar, 0.3% relative to the Australian dollar and yuan, 0.2% versus the euro and peso, and 0.1% against […] More

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

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