Euroland GDP
Central Banks and Data Storm Vie for Investors’ Attention
January 30, 2025
The dollar fell 0.8% against the yen overnight but has barely moved against other major currencies in the wake of the FOMC meeting that left the federal funds target unchanged at 4.25-4.50%. Fed Chairman Powell said monetary policy and the U.S. economy are in a good place and that there is no urgency therefore to […] More
ADP Jobs Estimate Eclipses Influence of U.S. and Euroland GDP Data Also Released Today
October 30, 2024
Estimated private sector employment growth in October from Automatic Data Processing, Inc soared to 233 thousand new jobs. That 15-month high is twice what analysts were expecting and follows 159k in September, which was revised from an original estimate of 143k. If the labor market release due this Friday corroborates this sharp pickup in labor market […] More
Monetary Policy Announcements from India and Russia and Awaiting U.S. Jobs Report
June 7, 2024
The dollar marked time overnight and is currently unchanged against the euro and Swissy, down 0.1% relative to sterling and the yen but up 0.1% vis-a-vis the Canadian and Australian dollars. The Mexican peso extended yesterday’s rebound. U.S. stock futures are steady. Overseas, share prices closed down 1.0% in New Zealand, 1.1% in Indonesia, 0.6% […] More
Softer World Growth Troubling Stocks
September 7, 2023
In the Federal Reserve Bank Beige Book of regional economic conditions released yesterday, only the Dallas district had better than modest growth, and even that regional economy was tarnished by uneven activity across sectors. Four districts stagnated, and the Philly district experienced a modest contraction of activity. Second-quarter GDP in the euro area has been […] More
Japanese and Euroland GDP Reported… Also Monetary Policy Decisions in India and Serbia
June 8, 2023
The dollar slipped further overnight, losing 0.5% against the Australian dollar, 0.4% versus the kiwi, 0.3% relative to the yen and euro, and 0.2% against the Swiss franc and sterling. One currency that fell against the dollar was the Turkish lira, which dropped 0.4% additionally. With both the European Central Bank and possibly the Federal […] More
Powell’s Hawkish Message Received Along With Some Data Surprises
March 8, 2023
TINA is the acronym for there-is-no-alternative, and that is the unflinching stance that the Federal Reserve wants to convey regarding its priority to restore in-target two percent inflation whatever such takes. In day one of Chairman Powell’s semi-annual testimony before congress yesterday, that message was expressed more forcefully than before including the surprise hint that […] More
Heavy Data Menu, Updated IMF World Economic Outlook, and the FOMC Begins Two-Day Policy Review
January 31, 2023
On this last day of January, the weighted DXY dollar index has edged 0.1% higher but will post its fourth monthly decline in a row. Overnight dollar rises were strongest against the the Aussie dollar (0.9%), kiwi (0.6%), and sterling and loonie (both up 0.4%), but the euro slid only 0.1%, the Swiss franc is […] More
Equity Wobbles Continue
December 7, 2022
Warnack won the Georgia senatorial runoff election, giving the Democrats a narrow senate majority plus the presidency for the coming two years, but Republicans now control the U.S. House of Representatives and have a solid grip on the Supreme Court for the foreseeable future. The dollar overnight dropped 0.5% against sterling, 0.4% relative to the […] More
A Busy Wednesday as Central Banks Compete with Data for Market Attention
September 7, 2022
Dollar strength continues, with another 20-year high touched overnight by the weighted DXY index. At 144.98, the dollar climbed 1.4% overnight and to its highest Japanese yen value since August 1998 when the Asian debt crisis was raging. The greenback also has advanced 0.8% versus sterling and 0.3% vis-a-vis the Canadian, Australian and New Zealand […] More
Investors Spooked Ahead of Today’s FOMC Minutes, Not Reacting Immediately to Other Data
August 17, 2022
FOMC Minutes due at 14:00 EDT are expected to accentuate the primacy of restoring price stability even if that means a continuing rapid rise of interest rates amid a slowing economy. The dollar, which has done well in times when the mood has turned risk averse, advanced overnight by 1.2% against the Australian dollar, 0.9% […] More
