Euroland CPI

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

Waiting for a Slew of U.S. Data

January 16, 2015

U.S. economic statistics will be released today on consumer prices, industrial production, consumer confidence, and capital flows with other economies.  We arrive at this juncture after five straight daily declines in U.S. share prices and one of the most volatile currency market days ever.  In forty years of forex market watching, I can not recall […] More

Awaiting the FOMC Statement and Yellen’s Press Conference

December 17, 2014

Stocks are lower and the dollar is firmer ahead of today’s FOMC news and the release of some U.S. data.  There’s already been some central bank news in the U.K., Czech Republic and Thailand.  The Asian Development Bank bumped projected 2015 growth and inflation in developing Asia slightly lower, and Japanese trade data for November […] More

Awaiting FOMC Pronouncements and Some Relief from Chinese Stimulus

September 17, 2014

Markets continue to react to yesterday’s news that the People’s Bank of China is creating a standing liquidity facility for the five biggest Chinese banks totaling 500 billion yuan or roughly $81 billion. In the meantime, investors await today’s FOMC statement, updated macroeconomic forecasts and Janet Yellen’s press conference.  The two first items are due […] More

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