Chinese retail sales and industrial production

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

Dollar Broadly Higher as Investors Seek Clarity on Brexit Mess and U.S.-Sino Trade Talks

March 14, 2019

British MPs last night defeated a motion for allowing the U.K. to leave the EU without any Brexit deal by a vote of 321-278. Today’s vote will be a motion to extend the Article 50 deadline beyond March 29th. Prime Minister May aims to hold another vote within the week on her Brexit deal. A […] More

Lots of Data Released and Mostly on the Softer Side

May 15, 2018

The dollar strengthened across the board overnight, rising 0.7% against the peso, 0.4% relative to the euro, Aussie dollar and yuan, 0.3% versus the yen and sterling, and 0.2% vis-a-vis the Canadian dollar, Swiss franc and kiwi. Equity markets in the Pacific Rim mostly fell, a 0.6% rise in China being the main exception. Share […] More

More U.S. Dollar Declines

March 14, 2018

The dollar lost some additional ground overnight, dipping 0.7% against the Aussie currency, 0.5% relative to the peso after Trump examined border wall prototypes, 0.3% versus the loonie, and 0.2% vis-a-vis the yen, kiwi, yuan, and sterling. The dollar, however, is unchanged on net against the euro and Swissie. In U.S. news prior to the […] More

Less Risk Aversion Now but Respite Might Not Last

August 14, 2017

North Korea hasn’t backed down rhetorically, and U.S. President Trump has every reason to keep foreign crisis distraction on the front-burner in light of the developments in Virginia. Nonetheless, the new week kicked off with last week’s haven-favored assets trimming their gains. Investors have shown temporary faith that a nuclear war will be averted one […] More

Markets Sustained by a Belief that Help is on the Way

August 12, 2016

Investors are confident that central banks won’t let bad things happen. The Central Bank of Chile kept a 3.5% interest rate benchmark and dropped language about future rate normalization. Like many other monetary authorities except perhaps the Fed, plans to tighten are getting delayed and in many cases like the Bank of England and BOJ […] More

Last Meaningful Week of 2015

December 14, 2015

A lot of information including a likely first federal funds rate hike since June 2006 will be crammed into this third week of December. ┬áSuch will clear the decks for the end-of-year holiday season, and trading desks will be closing their 2015 books. ┬áBack in the day, there was no more consistent reliable bias in […] More

Mixed Chinese Data on a Holiday-Dampened Wednesday

November 11, 2015

The Armistice ending the First World War was reached 97 years ago today.  Markets in the U.S. (Veterans Day), France (Armistice Day) and Canada (Remembrance Day) are shut. China reported October industrial production, retail sales, fixed asset investment, and net foreign direct investment statistics. A 5.6% on-year rise in industrial production was the smallest gain […] More

Monday Monday, Can’t Trust That Day

September 14, 2015

Overnight changes in the U.S. dollar have been comparatively mild.  It’s ticked 0.1% higher against the euro and Swissie, unchanged relative to sterling, and down versus the yen, yuan, Aussie, Canadian and New Zealand dollars. Share prices fell 2% in China, 1.6% in Japan and 0.5% in South Korea but rose 1.0% in India, 0.5% […] More

Dollar Drifts Downward along with the Snow

December 10, 2013

Much of the U.S. is blanketed with the white stuff, including the Northeast which is experiencing wintry weather for a second straight day. The dollar fell overnight by 0.3% against the yen, 0.2% versus the New Zealand and Australian dollars and 0.1% relative to the euro, Swiss franc, loonie and sterling.  The Chinese yuan was […] More

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