Euroland GDP

Dollar, Pound and Most Equities Falter as a Ton of Economic Data Got Released

November 14, 2017

The dollar rose 0.7% against sterling while posting losses overnight of 0.7% against the euro, 0.4% versus the Swiss franc, 0.2% vis-a-vis the Australian dollar, and 0.1% relative to the yen, loonie, peso and yuan. The kiwi fell 0.5%. Share prices declined 0.9% in Australia, 0.6% in Indonesia, Singapore and Hong Kong, and 0.5% in […] More

Mixed News at Month End

October 31, 2017

The dollar traded up by 0.6% against the kiwi, 0.4% relative to the Swiss franc and Australian dollar, and 0.2% vis-a-vis the yen, euro and loonie. The dollar is unchanged against sterling and 0.3% and 0.2% softer against the peso and yuan. In stock market action, share prices rose 0.9% in South Korea and 0.5% […] More

Growth Optimism Crowds Out Geopolitical Worries in Wednesday’s Session

August 16, 2017

Markets have turned a deafer ear to geopolitical concerns, but such is likely only a temporary lull. A Korean war seems less imminent, but world alarm about changes happening in the United States continues to mount. The title of a Tuesday Op-Ed article in the Financial Times — America is now a dangerous nation — would have […] More

A Day Potentially Fraught with Major Developments

June 8, 2017

First up is ECB President Mario Draghi’s press conference. The Governing Council didn’t change interest rates. No surprise there. But new macro-forecasts will be unveiled, and there are risks that the growth outlook will be made brighter but also that projected inflation may be lowered. Next comes former FBI Director Comey’s testimony before the Senate […] More

Another U.S. Gaffe Lifts Euro to a 6-Month High

May 16, 2017

President Trump is alleged to have divulged elements of classified information regarding a terrorist plot to the Russians. He claims to have broken no law in doing so, but the optics surrounding this incident compound an already very toxic climate in U.S. politics. The dollar fell overnight by 0.7% against the euro (to a half-year low), […] More

Waiting for the FOMC Statement Later Today

May 3, 2017

Markets were closed today in Japan (Constitution Day) and both South Korea and Hong Kong (Buddah’s birthday). Lower U.S. share prices are indicated likely in the wake of disappointing data released yesterday. All six automakers reported lower sales in April, and Apple’s 1Q earnings missed expectations. The yen’s recent slide continued. The dollar shows gains […] More

Dollar Mostly Higher but Only Slightly So

March 7, 2017

The dollar shows overnight gains of 0.3% against the Swiss franc and sterling, 0.2% relative to the kiwi, and 0.1% vis-a-vis the yen, loonie and euro. The dollar fell 0.5% against the peso and 0.2% versus the Australian currency. The yuan is steady after unexpected news that Chinese international reserves, which in January dipped under […] More

Dollar and Sterling Strengthen but Oil Steps Back

December 6, 2016

The dollar is unchanged against the pound but up 0.4% against the yen, loonie, kiwi and Australian dollar. The U.S. currency also rose 0.2% overnight relative to the euro and Swiss franc. An appeal is being heard in British courts regarding the legality of leaving the EU based solely on a voter referendum. Sterling has […] More

Message of Jackson Hole Didn’t Stick

September 6, 2016

Speeches and various comments emerging from the Jackson Hole Symposium late last month had been coordinated to plant in investors’ minds the notion that the Fed would be raising its interest rate sooner than assumed and that two hikes before yearend in fact remained possible. The shift in market psychology was only fleeting, however, and […] More

Markets Sustained by a Belief that Help is on the Way

August 12, 2016

Investors are confident that central banks won’t let bad things happen. The Central Bank of Chile kept a 3.5% interest rate benchmark and dropped language about future rate normalization. Like many other monetary authorities except perhaps the Fed, plans to tighten are getting delayed and in many cases like the Bank of England and BOJ […] More

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