Euroland CPI

Big Day for Central Bank Policy Meetings

March 16, 2017

On Wednesday, the Federal Reserve increased its target fed funds rate band by 25 basis points to 0.75-1.0%. Although meeting expectations, remarks by Chair Yellen proved more dovish than expected. Policymakers envisage the same number of rate increases this year and next as they did back in December. On the central banking front today, The […] More

Better Session for the Dollar

January 18, 2017

Following sharp losses on Tuesday, the dollar prior to the release of U.S. CPI figures shows a recovery of 0.9% against sterling, 0.8% relative to the peso, 0.5% vis-a-vis the loonie and yen, and 0.2% versus the euro, Aussie dollar and kiwi. The yuan and Swiss franc remained¬†steady. Share prices in the Pacific Rim increased […] More

Lower Dollar as Investors Await FOMC Minutes

January 4, 2017

The dollar depreciated overnight by 0.8% against the loonie, 0.5% relative to the yuan and kiwi, 0.4% versus sterling, 0.3% vis-a-vis the euro and¬†0.2% against the yen and Australian dollar. Japan reopened for a half day, and the Nikkei rose 2.4%, catching up for lost time. In other Pacific Basin stock markets, equities rose 1.7% […] More

OPEC Production Cut Accord Sets Tone for Wednesday’s Financial Markets

November 30, 2016

OPEC oil ministers in Vienna announced a 1.2 million barrel per day production cut to 32.5 mb/d. Saudi Arabia, Iraq and Iran are on board, and there’s reason to believe Russia will take actions to make the agreement work. It’s the first cut since 2008. Brent oil jumped above $50, and West Texas Intermediate crude […] More

Markets Wonder What Yellen Will Say Today

November 17, 2016

Thursday is being dominated by Fed Chair Yellen’s morning testimony before the Joint Economic Committee of Congress. It will be her first remarks since Donald Trump was elected president on an agenda of more stimulative fiscal policy. She will not doubt be asked how such might affect the trajectory of central bank interest rates. Other […] More

Expected U.S. Inflation Moves Up

October 17, 2016

Janet Yellen’s wide-ranging speech before the weekend appears to have lifted price expectations. The Fed Chair seemed to favor letting inflation exceed target temporarily. Share and bond prices, as well as oil are generally softer. So is the dollar, sterling and some emerging market currencies like the Turkish lira. Turkey’s jobless rate jumped 0.5 percentage […] More

Pick-Up in Flow of Data Creates New Trading Incentives

August 18, 2016

Wednesday had seen a lull in statistical releases and a commensurate lackluster trading day. Thursday’s been a more interesting day from both vantage points. Released figures include Japanese trade and machine tool orders, Euroland consumer prices, current account and construction output, British retail sales, Australian labor statistics, and Chinese property prices. Investors also are reacting […] More

Japanese GDP Growth in 4Q Beat Expectations. Ezone Inflation Negative. Awaiting FOMC Minutes

May 18, 2016

The dollar strengthened overnight by 0.7% against the Australian dollar, 0.5% relative to the kiwi and loonie, 0.4% vis-a-vis the euro, 0.3% against the yen 0.2% versus the yuan and 0.1% relative to sterling. Gold lost 0.3% to $1,273.30 per ounce, and copper fell even more sharply.  West Texas Intermediate crude oil firmed 0.3% to […] More

Some Investor Caution Returns

April 14, 2016

Yesterday’s stock market rally carried into Asia but not Europe. Share prices rose 3.2% in Japan, 1.3% in Australia, 1.8% in South Korea, 1.9% in India and 0.5% in China. Equities in Europe have settled back 0.7% in Greece, 0.4% in Spain and Italy, and 0.1% in the U.K. and France.  The German Dax is […] More

The June FOMC Meeting Has Arrived

June 17, 2015

This week’s FOMC decision (due today at 18:00 GMT) and Yellen press conference (starting 30 minutes later) have been eagerly awaited ever since monetary officials signaled that their data-driven policy could begin to raise the federal funds rate as early, but not before, the June meeting.  Analysts are not expecting that to happen but are […] More

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