Euroland construction output
Few Data Releases, Firmer Share Prices and Metals, Steady Oil and Sovereign Debt Yields
August 20, 2018
Dollar/yen is unchanged. The dollar is down 0.3% against the yuan but has risen 0.3% against the euro, 0.2% relative to the Australian dollar, kiwi, and Mexican peso, and 0.1% versus the Swiss franc, loonie and sterling. Equities climbed Monday by 1.9% in Indonesia, 1.5% in Hong Kong, 1.1% in South Korea, 0.9% in India […] More
Intensifying Fear of a Trade War Generating Stampede from Risky Assets
June 19, 2018
Today’s story lies in market movement, not fresh economic news. The DOW, German Dax and Paris Cac have dropped over 1.0%. Chinese share prices plunged 3.8%. The Hang Seng lost 2.8%. Japan’s Nikkei closed down 1.8%, and the South Korean Kospi fell by 1.5%. The 10-year Treasury yield slid another 3 basis points and is […] More
Little Change Overnight in Most Dollar Forex Values
May 17, 2018
Against other major currencies, the dollar is unchanged against the loonie and yuan, up 0.1% relative to the euro, Swiss franc and kiwi, up 0.3% versus the yen, but down by 0.1% against the Australian dollar and sterling. Bigger dollar moves have occurred against emerging market currencies. The greenback dropped 0.3% against the Indonesian rupiah […] More
Focus Shifting to Upcoming ECB and BOJ Monetary Policy Reviews
July 19, 2017
Yesterday’s story centered on the failed U.S. healthcare repeal and replace bill, which sent the dollar sharply lower. The dollar today has declined a further 0.4% against the yen and Australian dollar, 0.3% relative to the loonie and kiwi, and 0.1% vis-a-vis sterling and the Swiss franc. But the dollar recovered 0.2% against the euro […] More
Dovish Remarks from a Federal Reserve President
February 17, 2016
Boston Fed President Eric Rosengren gave a speech overnight that warned of long-lasting effects on inflation from the plunge of energy prices and predicted that such could impeded efforts to raise U.S. interest rates. Rosengren is one of the more dovish FOMC members. ECB Governing Council member Nowotny of Austria struck a very different tone, […] More
Dovish Rhetoric
October 17, 2014
Markets have a better tone. aided by some dovish remarks from Fed’s Bullard (maybe QE3 shouldn’t end now), Coerce (ECB to start buying assets very soon), Nowotny (euro depreciation constructive), Haldane (British data point to later rate hike rather than sooner), and Kuroda (BOJ easing to continue until 2% inflation secured). The 10-year Treasury futures […] More
Sterling Boosted by Robust U.K. Retail Sales Data
January 17, 2014
British retail sales leaped 2.6% on month in December, lifting the 12-month increase threefold to 5.3%. Non-auto sales went up 2.8% from November and by 6.1% from a year earlier. The Japanese cabinet upgraded its assessment of the economy to “recovering at a moderate pace” from December’s view that the “economy is on the way […] More
U.S. Debt Crisis Averted for Now.. Markets Turn to React
October 17, 2013
U.S. agreement details: Government shutdown suspended until January 15, barring a budget deal before then. Debt ceiling raised temporarily through February 7, though real deadline now sometime in March. President Obama has enhanced safeguards to avoid a default at the next crisis. Deal agreed by 81-18 senate vote and 285-144 vote in the House. There’s […] More
Thanksgiving Week Starts on Optimistic Note
November 19, 2012
This will be a holiday-shortened week in the United States. Japanese markets will be closed Friday for Labor Thanksgiving. In today’s session so far, European share prices have rallied 1.4% in France, 1.3% in Germany, 1.2% in Italy, 1.0% in Britain, and 0.7% in Spain. The Japanese Nikkei climbed 1.4% and closed above 9100. Stocks […] More
Uneasiness about Europe on a Light Data Release Day
March 19, 2012
Share prices are lower in Europe, with drops of 0.6% in Paris and 0.4% in London and Frankfurt. In the Pacific Basin, equities fell by 1.2% in India, 1.0% in Pakistan and Hong Kong, 0.7% in Singapore, and 0.5% in New Zealand. Stocks edged up 0.6% in South Korea, 0.3% in Australian and 0.1% in […] More
