Euroland industrial production
Sterling and European Share Prices Falter
October 14, 2019
In this important week for the fate of Brexit, sterling dropped 0.9% against the dollar overnight. On a day with holiday closures in the United States (Columbus Day), Canada (Thanksgiving), and Japan (Health Sports Day), the dollar otherwise advanced 0.7% against the kiwi, 0.2% versus the euro, and 0.5% relative to the Australian dollar but […] More
Markets React to ECB Stimulus, U.S. CPI Data, and Continuing Hopes on Trade Talks
September 12, 2019
Policymakers at the European Central Bank as expected cut the deposit rate by 10 basis points to minus 0.50%, announced an open-ended asset purchase program to start in November at EUR 20 billion per month, said targeted LTRO operations will carry the average deposit rate, and introduced a a 2-tiered system of reserve remuneration in […] More
Softer Dollar as Second Week of July Draws to a Close
July 12, 2019
The dollar fell overnight by 0.5% against the Swiss franc, 0.4% versus the yen, 0.3% relative to the Australian dollar, and 0.2% vis-a-vis the loonie, peso, and sterling. EUR/USD is unchanged, however. The S&P 500, Hang Seng, Nikkei, and German Dax are barely changed, but Chinese equities rose 0.5% after release of Chinese data showing […] More
Dead Cat Bounce
May 14, 2019
The escalation of trade war hostilities between the U.S. and China rattled global financial markets significantly yesterday, but today’s mood has been more encouraging. Share prices in Europe are up so far by 1.2% in France, 1.0% in the U.K. and Italy, and 0.9% in Germany. In Asia, equities fell 1.8% in Hong Kong, which […] More
Stocks and Oil Firmer but Dollar and Fixed Income Asset Prices Lower
April 12, 2019
The dollar has weakened 0.7% against the Aussie dollar, 0.6% relative to the kiwi, 0.5% versus the euro, 0.4% vis-a-vis the loonie, 0.3% against the yen, peso and sterling and 0.2% versus the Swiss franc and Chinese yuan. The price of WTI oil strengthened nearly 1% overnight and is again above $64.00 per barrel. The […] More
Awaiting Another Key Vote on Brexit
March 13, 2019
Yesterday’s British parliamentary vote on Prime Minister May’s revamped Brexit deal saw around 40 MPs flip from having voted no in January to now accepting the arrangement. The deal was nonetheless easily rejected by 391 nays to 242 yes votes. Today’s key vote asks MPs for approval for the U.K. to leave the EU after […] More
Policies Driving Currency Markets as More Evidence Emerges of Slower Global Growth
February 13, 2019
Industrial Production in the euro area fell 0.9% in December, more than double the expected slide after a 1.7% drop recorded in November. This resulted in a 4.2% 12-month rate of decline, the biggest on-year contraction since November of 20o9. December output among the common currency bloc’s five largest economies fell from end-2017 levels by […] More
Political Spectacles and Some Data of Interest
December 12, 2018
President Trump is in engaged in a last ditch effort this month to attain funding for construction of his promised wall along the Mexican border before the Democrats gain control of the House of Representatives. The peso rose 0.8% overnight against the dollar. Trump is believed to be making more progress in trade talks with […] More
Awaiting China’s Response on Tariffs and Watching Price Data
July 12, 2018
Today saw more hope than on Wednesday that officials in Beijing will take a step back rather than escalate the trade war with the United States following the latest tariff increases proposed by President Trump. Perceptions on this issue remain highly fluid, however, and could turn gloomier very quickly. Share prices advanced 2.2% in China, […] More
Awaiting FOMC Statement and Press Conference
June 13, 2018
The Federal Open Market Committee is widely expected to raise the federal funds target later today and will hold a press conference afterward. Markets will comb the new forecasts and dot-plot indication of individual FOMC member preferences regarding the future path of the interest rate. Market attention will remain on central bank policy. The European […] More
