Euroland industrial production
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
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
Better Market Tone as Still No U.S. Reprisal on Syria
April 12, 2018
Never said when an attack on Syria would take place. Could be very soon or not so soon at all. Trump’s tweeted clarification regarding Syria has dampened the perceived immediacy of a geopolitical meltdown. Stocks in response have trimmed yesterday’s losses. Euro area industrial production, which had been forecast to hold generally flat in February, […] More
Upbeat ECB Minutes Lift Euro
January 11, 2018
Minutes of the December ECB Governing Council meeting seem to proclaim the beginning of the end of the central bank’s ultra-easy stance. Quantitative settings were not changed, and a continuing determination to complete the current campaign of quantitative stimulus was projected. But the following paragraph initiates a coming shift in forward guidance. It was argued […] More
Dollar Slips and Stocks Rise Ahead of Last FOMC Decision of the Yellen Era
December 13, 2017
The dollar fell overnight by 0.7% against the kiwi, 0.6% versus the Aussie dollar, 0.4% relative to sterling, 0.3% vis-a-vis the yen and 0.1% against the euro, Swiss franc and loonie. Core U.S. CPI inflation in November was 0.1 percentage point less than forecast with a rise of 0.1% from October and a 1.7% 12-month […] More
Sterling Down on Stalemated Brexit Talks
October 12, 2017
A fifth round of Brexit talks between the U.K. and EU failed to make progress settling the matter of Britain’s debt to the common currency, and without such the EU won’t discuss Britain’s future relationship with Continental Europe. Sterling fell 0.6% against the euro and dollar overnight. Sentiment toward the euro was buoyed by the […] More
A Pause in the Action
September 13, 2017
Movements in stocks, the dollar, and sovereign debt instruments have been minor so far today especially compared to those earlier in the week. The most significant action has been a drop in copper (1.5%) and other industrial metals. The dollar slipped 0.3% against the Australian and Canadian dollars, 0.2% versus the euro and 0.1% vis-a-vis […] More
A Valentine’s Day Full of Data and Other Developments
February 14, 2017
Market Movement: The dollar is higher against sterling but lower against the euro, Swissie, yen, and commodity-sensitive currencies. Oil and gold climbed 1.3% and 0.7% overnight. 10-year German bund and Japanese JGB yields rose a basis point, while the 10-year Treasury and British gilt slid a basis point. Japan’s Nikkei slumped 1.1%. Central Bank News: […] More
Rotation in Investment Strategies Extended
November 14, 2016
The dollar continued to climb, gaining overnight by 1.0% against the yen, 0.9% versus the Swiss franc, 0.8% relative to the euro, 0.7% vis-a-vis sterling, 0.5% against the kiwi, 0.3% versus the Mexican peso and 0.1% against the loonie. Since the close on November 8, the day of the U.S. election, the dollar has advanced […] More
A Fearful Mood in the Marketplace
September 14, 2016
Investor confidence has turned very fragile because of The erosion of Clinton’s lead. A Trump victory is expected to be followed by vast changes in U.S. policy on a wide range of policies and procedures. Signs that monetary stimulus has hit the wall of diminishing returns even as global growth remains lackluster and inflation too […] More
