Euroland GDP

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

Stocks Up, Sterling Up and Dollar Mostly Down

June 7, 2016

Sterling recovered around 1%.  Today’s released polls showed voters narrowing favoring staying in the EU, whereas yesterday’s releases gave an edge to the “leave” camp. The dollar otherwise is down 1.0% against the Australian dollar, 0.4% versus the Swiss franc, 0.3% relative to the kiwi and loonie but unchanged against the euro and 0.1% higher […] More

Stocks, Commodities, Bond Yields Slip ahead of U.S. Data

May 13, 2016

Markets are ending the week on a risk averse note.  The yen advanced 0.9% against the dollar in spite of Bank of Japan Governor Kuroda’s assertion that the central bank is prepared to ease decisively further. A lower open is indicated in U.S. stock futures.  Downward momentum was fueled by yesterday’s gloomy report from Macy’s.  […] More

Weaker Yen and Gold, Firmer Dollar, and Soft Data

November 14, 2014

The yen dropped 0.6% against the dollar to a new multi-year low of 116.51 and fell also to a 10-month low of 145.09 per euro. The U.S. currency otherwise advanced 0.3% against the euro, Australian dollar and sterling, 0.2% versus the Swiss franc and kiwi and 0.1% relative to the yuan. The Swiss currency continues […] More

More Weak Data Creating New Doubts about Future Monetary Policy

August 14, 2014

The dollar is unchanged today against the yen, sterling and yuan.  It has eased 0.5% against the kiwi, 0.3% relative to the Swiss franc, 0.2% vis-a-vis the euro and loonie and 0.1% against the Australian dollar. The ten-year Treasury yield has slipped below 2.40%, a drop of three basis points to 2.39%.  The ten-year British […] More

Few Comments on Euroland GDP Figures

August 14, 2013

Note that Euroland expresses GDP changes without the U.S. convention of annualization.  Thus U.S. second quarter GDP growth, which was reported earlier as 1.7% — the change if the 2Q-over-1Q pace were sustained for a full year — would in the European custom be expressed as a 0.4% advance.  Similarly, British and Japanese growth on […] More

Weak Ezone GDP Data Sends Euro Below $1.2900

May 15, 2013

The dollar is stronger across the board, with gains of 0.8% against the Swissie, 0.6% versus the euro, 0.4% relative to the yen, loonie and Aussie dollar, 0.2% against the kiwi, and 0.1% versus the yuan and sterling. Japan’s Nikkei-225 shot up 338 points or 2.3%, closing above 15,000 for the first time since January […] More

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