Euroland industrial production

Central Banks, Economic Data Surprises, and British Voters in the News This Thursday

December 12, 2019

Polls in Britain’s parliamentary election today will close at 22:00 GMT 17:00 EST. The fate of Brexit is at stake. U.S. producer prices stayed unchanged in November, defying expectations of an increase and leaving the 12-month  increase at 1.1%. An even bigger surprise was a leap in new jobless insurance claims last week to 252k, […] More

A Little Bit of Everything This Wednesday

November 13, 2019

Investors have much to watch today including two separate congressional events of great interest. Public hearings on a possible impeachment of President Trump begin at 10:00 EST in the House Intelligence Committee, and one hour later Fed Chairman Powell testifies on the economic outlook before the Joint Economic Committee. There’s already been one central bank […] More

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

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