Euroland current account

Weaker Yen and European Stocks, Stronger Asian Equities, and Firmer Oil

December 19, 2014

A volatile week in the marketplace has seen more swings on Friday, but dollar movement against the majors has been less than 0.3% except for a 0.4% drop in the yen. Share prices in the Pacific Basin advanced by 2.5% in Australia, 2.4% in Japan, 1.7% in South Korea, 1.3% in Hong Kong, 1.1% in […] More

All Quiet on the Scottish Front

September 19, 2014

The referendum on Scottish independence was defeated by a 55-45% vote and in 28 of 32 constituencies.  In relief, the British Ftse has risen 0.7%.  Equities advanced 1.6% in Japan, 0.7% in China, 0.6% in Hong Kong, 0.5% in New Zealand, 0.4% in Indonesia and 0.3% in South Korea and Australia.  The German Dax and […] More

Scant Change in Dollar

March 21, 2014

The dollar is unchanged from Thursday closing levels against the yuan, loonie and sterling.  The U.S. currency lost 0.1% relative to the yen, euro and Swissie and shows larger 0.4% declines versus the Australian and New Zealand dollars. Asian share prices rebounded 3.4% in China, 1.2% in Hong Kong, 0.8% in Australia and South Korea […] More

Beyond the Taper

December 19, 2013

In the wake of yesterday’s Federal Reserve “taper” initiative, the dollar is higher, the yen is softer, 10-year sovereign debt yields are up, U.S. share prices are holding onto most of their gains, European stocks have rallied, and perhaps most dramatically of all, gold has plunged another 3.3% and is below $1200 per ounce. New […] More

Chinese Mojo

November 18, 2013

The initial disappointment of investors regarding the Third Chinese Plenum has given way to euphoric relief as details of proposed reforms filtered out subsequently.  A 3.3% advance in Chinese share prices was almost matched by gains of 2.7% in Hong Kong’s Hang Seng index and 2.2% in India’s Sensex.  Share prices rose 1.3% in India […] More

Federal Reserve in the Spotlight

September 17, 2013

Even as the Federal Open Market Committee meets today for the first of a critical two-day policy meeting, a story has emerged that Janet Yellen, the present vice-chairperson, is now the front-running candidate to succeed Ben Bernanke as chair-person.  Bernanke’s second 4-year term ends in late January. In other central bank news, Minutes from the […] More

Chinese Yuan Weaker

July 18, 2013

Chinese monthly house price data revealed continuing upward pressure.  Related to this, officials set the yuan at its weakest level in ten days.  British retail sales figures exhibited greater-than-anticipated strength. Fed Chairman Bernanke will be reprising yesterday’s semi-annual testimony before the Senate Banking Committee today.  On Wednesday, he asserted that no pre-announced tapering path of […] More

Pausing at the Solstice

June 21, 2013

After Thursday’s shock and awe, markets are taking stock of the damage.  Equities fell in the Pacific Rim but have bounced in Europe. Overnight movement in the U.S. dollar has been inconsequential: drops of 0.4% against the Australian dollar, which hit a 33-month low yesterday, and 0.2% versus the kiwi, upticks of 0.2% against the […] More

Lower Share Prices and Bond Yields but Fairly Steady Currencies

October 19, 2012

Overnight movements in the dollar this Friday were limited to gains of 0.2% against the Swiss franc and 0.1% vrsus the euro, Aussie dollar, yuan and loonie, along with dips of 0.1% relative to the yen and sterling and no change vis-a-vis the kiwi. Stock market tone was set by yesterday’s disappointing earnings reports from […] More

Hope Holding Regarding Ezone Crisis Resolution

August 17, 2012

German Chancellor Merkel endorsed ECB Pdt Draghi’s conditional commitment to aiding peripherals and the promise to preserve the euro. Spanish 10-year sovereign debt yields remain well below the 7% threshold at 6.49%, and Italian 10-year sovereign debt are a tad below 5.8%. The ten-year German bund and British gilt yields firmed a basis point.  The […] More