Euroland current account
Down Day for Stocks and Dollar
April 11, 2018
Military conflict between U.S. and Russian forces in Syria appears at hand. Trump is promising missile strikes, and Russia claims to have the ability to knock them out of the sky before targets are hit. Investors are uneasy that these hostilities will escalate further. U.S. consumer price inflation accelerated further in March in spite of […] More
Trade War Fear Takes Center Stage
March 22, 2018
While Fed Chairman Jay Powell downplayed the risk to growth from trade restraints at least insofar as any influence on U.S. monetary policy is concerned, global financial markets are taking the danger of a trade war very seriously, particularly as President Trump seems poised to slap $50 billion of tariffs on imported Chinese goods. There’s […] More
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
