Euroland GDP

Lots of Data Released and Mostly on the Softer Side

May 15, 2018

The dollar strengthened across the board overnight, rising 0.7% against the peso, 0.4% relative to the euro, Aussie dollar and yuan, 0.3% versus the yen and sterling, and 0.2% vis-a-vis the Canadian dollar, Swiss franc and kiwi. Equity markets in the Pacific Rim mostly fell, a 0.6% rise in China being the main exception. Share […] More

Significant Data Reports

February 14, 2018

Japanese real GDP expanded only 0.5% at a seasonally adjusted annualized rate last quarter, the weakest pace in eight quarters and down from 2.2% in 3Q and 2.5% in 2Q17. GDP still grew faster (1.6%) in 2017 than the prior year’s pace of 0.9%. The GDP price deflator went up merely 0.2% in 2017 and […] More

Yesterday’s Dollar Rebound Already Petering Out

January 30, 2018

The dollar‘s advance on Monday was trimmed by overnight losses of 0.5% against the Swiss franc, 0.3% relative to the euro and yen, 0.2% vis-a-vis the New Zealand and Australian dollars, and 0.1% versus the loonie and sterling. Investors want to see exactly what President Trump presents in tonight’s state of the union address and […] More

A Scramble to Tie Up Loose Ends

December 7, 2017

Politicians around the world are in a rush to complete unfinished business. Republicans in the U.S. House and Senate are negotiating a compromise of their separate bills to get a law signed before the Christmas recess. The process is proceeding informally and without Democratic Party involvement to compress the timetable. A risk continues that the […] More

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

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