Euroland current account

Dampened Activity Due to Holidays in Asia and North America

February 19, 2018

The U.S. dollar is unchanged against the euro, peso, sterling and Canadian and New Zealand dollars.The greenback slipped 0.2% relative to the Aussie dollar and 0.1% vis-a-vis the Swiss franc but edged up 0.1% versus the yen. Several Asian markets remained closed for the Lunar New Year holiday, including those in China, Taiwan, Hong Kong, […] More

U.S. Federal Government Shutdown at Midnight Still Possible

January 19, 2018

Talks to avert a U.S. fiscal shutdown at the end of today have degenerated into a 3-way circus. House Republicans passed a short-term fix that excludes DACA but enhances CHIP child support. President Trump’s tweets endorse the CHIP enticement only as part of a long-term solution and continue to insist on funding for the Mexican […] More

Rise in Sovereign Debt Yields Extended

December 20, 2017

The Senate approved the tax bill without any support from the Democrats by a vote of 51-48. All that remains is one final assured vote today in the House of Representatives and President Trump’s signature on the bill. This legislation is projected to boost economic growth in 2018 but also will raise federal deficit spending […] More

Dollar Climbs on Likelier U.S. Tax Reform

October 20, 2017

The dollar benefited from several factors on Friday, climbing 0.7% against the yen, kiwi and Swiss franc, 0.6% versus the peso, 0.4% relative to the euro and Australian dollar, 0.2% against the loonie and 0.1% vis-a-vis the yuan. The greenback edged 0.1% lower against sterling. The Republican-controlled senate approved a filibuster-proof budget that enhances prospects […] More

Japanese Nikkei Plays Catch-Up after Holiday

September 19, 2017

As Japanese markets reopened following a 3-day holiday weekend, the Nikkei-225 leaped 390 points or 2.0%, moving back up the 20K level. But other stock markets did not follow suit. Equities elsewhere in the Pacific Rim closed down 0.5% in Singapore and Taiwan, 0.3% in Hong Kong, 0.2% in China and 0.1% in Australia, New […] More

Markets Remain Rattled by Concerns over the Political Direction of the United States

August 18, 2017

The dollar lost 0.5% overnight against the yen, loonie, kiwi and Aussie dollar. The greenback also dipped 0.1% versus the euro, Swissy, yuan and sterling. Japan’s Nikkei dropped 1.2% or 232 points overnight. In other selected markets around the Pacific Rim, stocks lost 1.0% in Hong Kong, 0.9% in India, 0.6% in Australia and 0.5% […] More

Sterling and Price of Oil Falter

June 20, 2017

Sterling declined 0.6% following delayed Mansion house speeches by Bank of England Governor Carney and Chancellor of the Exchequer Hammond. Carney reiterated warnings that Brexit will damage the British economy, cited anaemic wage growth and slower personal consumption, and expressed opposition to hiking the central bank’s interest rate. Hammond staked out a soft position on […] More

A Somewhat Calmer Session

May 19, 2017

In Europe, stocks have risen 0.8% in Switzerland and Spain, 0.7% in Italy, 0.6% in Greece, 0.5% in France, 0.4% in the U.K., and 0.3% in Germany. China’s market closed unchanged. Japan’s Nikkei rose 0.2%, and Australia’s bourse slipped 0.2%. The erosion of the dollar’s external value continues. The euro climbed another 0.5%, capping its […] More

Commodities, Bond Yields, Stocks and Sterling Lower

February 17, 2017

The dollar gained 0.5% against sterling, which was depressed by a poor report on British retail sales. The greenback also rose 0.4% versus the kiwi, 0.3% vis-a-vis the Australian dollar, 0.2% relative to the euro, Swiss franc, yuan, and peso. But it lost 0.4% against the Japanese yen. Prices for copper and other industrial metals […] More

Japanese Satisfaction Evident with a Weakening Yen

December 20, 2016

The yen fell 0.8% against the dollar after the Bank of Japan left its accommodative monetary stance unchanged despite a sharply lower yen. Governor Kuroda dispelled any thought of a possible rate hike, noting that depreciation lifts import prices, overall inflation, growth and expected inflation. The dollar also advanced 0.5% against the pound, 0.3% versus […] More

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