Euroland current account

Brexit Headed for Photo Finnish and a Lot of Chinese Data Released

October 18, 2019

A debate and vote on British Prime Minister Johnson’s deal with the EU is scheduled Saturday. He needs 318 yes votes for approval, and the outcome figures to be very close to that threshold. Johnson needs only a simple majority win. In a more perfectly designed political system of self-governance, a decision with such profound […] More

NY Fed President Moves Markets Unwittingly

July 19, 2019

John Williams, President of the NY Fed and a permanent member of the FOMC, gave an academic speech asserting that it’s best for central banks to respond quickly in the face of slower economic growth. Investors took his comment as the clearest sign yet that the federal funds rate will be cut at the FOMC […] More

Much Riding on Fed Chairman’s Press Conference

June 19, 2019

The dollar is unchanged from Tuesday closing levels against the yen, yuan, kiwi, and Australian dollar. The greenback has slipped 0.4% against the Swiss franc, 0.3% relative to sterling but just just 0.1% vis-a-vis the loonie and euro. U.S. President opened a fresh topic in the 24-hour news cycle, accusing ECB President Draghi and that […] More

Two Surprises

May 20, 2019

The new week is greeting investors with two unexpected developments, one political and the other economic. The right-of-center Liberal-National coalition government of Australia was headed for defeat in parliamentary elections according to previous opinion polls but instead defeated its Labour Party opponent. Scott Morrison will remain prime minister, and he campaigned on a promise of […] More

Investors Remain on Edge

October 19, 2018

China reported the lowest on-year GDP growth (6.5% in 3Q) since the first quarter of 2009. Damning evidence continues to mount that the highest levels of the Saudi government were complicit in the likely death of dissident journalist Khashoggi. U.S. Treasury Secretary Mnuchin upcoming trip to Saudi Arabia was cancelled. Two Fed officials, Governor Quarles […] More

Released Current Account Data and Some Central Bank Decisions

September 19, 2018

The dollar is steady to mostly softer. North America’s stock market rally on Tuesday carried over into Asia and Europe. The ten-year British gilt yield edged up 2 basis points, and gold firmed 0.4%. Oil is steady, as are German bunds and Japanese JGBs. New Zealand recorded a larger-than-forecast NZD 1.619 billion current account deficit […] More

Trump’s Latest Comment on Tariffs Stirs Up Fresh Market Anxiety

July 20, 2018

Stocks had performed decently in the Pacific Rim, rising overnight by 2.1% in China, 1.0% in Hong Kong, 0.4% in Australia and 0.9% in Taiwan. The Japanese Nikkei had been an exception, drifting down 0.3%. In an interview with CNBC, President Trump signaled a willingness to impose tariffs on China equal to the sum of […] 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

Some Price Data and a Discouraging Remark from China

May 18, 2018

The dollar firmed overnight by 0.3% against sterling, 0.2% versus the yuan, yen and euro, and 0.1% relative to the loonie. The greenback fell 0.5% against the kiwi and 0.1% vis-a-vis the Swiss franc and is unchanged relative to the Australian dollar and peso. Share prices in the Pacific Rim climbed 1.2% in China, 0.6% […] More

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

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