Euroland industrial production

Weaker Pound and Dollar

November 12, 2014

Sterling fell 0.5% against the dollar, which has otherwise depreciated 0.8% relative to the kiwi, 0.3% versus the euro, 0.2% vis-a-vis the yen and Australian dollar and 0.1% against the loonie.  The Swiss franc at 1.2022 per euro moved nearer to the 1.2000 ceiling that Swiss National Bank officials promise unlimited intervention to prevent further […] More

Another Volatile Trading Session

October 14, 2014

The dollar is stronger except against the yuan and yen.  Especially large advances of 1.0% and over 1.5% have occurred against sterling and the Swedish krona following reports of that British CPI inflation fell 0.3 percentage points (ppts) to a 5-year low of 1.2% and Swedish consumer prices, also in the year to September, had […] More

Several Instances of Weak Data Released Today

August 13, 2014

Japanese real GDP fell 6.8% annualized in the second quarter.  The decline reversed the first-quarter gain but was not quite as much as analysts had feared.  Because of a 20.5% dive in imports, net exports enhanced the growth rate by 4.4 percentage points, and involuntary inventory building accounted for another 3.9 percentage points of growth. […] More

Quintet of Central Bank Policy Announcements

December 12, 2013

The Reserve Bank of New Zealand left the 2.5% official cash rate at its record low but served notice that such is headed higher and possibly soon. The Bank of Korea’s 7-day repo rate was kept at 2.5% as well, its level since May.  Inflation is below target. Bank Indonesia did not raise its reference […] More

Bank of England Report Opens Door Wider to an Earlier Rate Hike

November 13, 2013

Sterling rose as high as $1.6004 following release of the central bank’s quarterly inflation report and shows a net gain of 0.4% from Tuesday’s close. The dollar otherwise climbed 0.5% against the kiwi and 0.1% versus the euro and Swiss franc.  The dollar has softened 0.2% against the yen and 0.1% relative to the Australian […] More

U.S. Debt Deal Still Eluding

October 14, 2013

Three markets are on holiday today, dampening activity. U.S.: Columbus Day (partial closure). Japan: Health Sports Day Canada: Thanksgiving A deal to extend the $16.7 trillion U.S. debt ceiling and avert a default was not finalized over the weekend despite promising signs on Thursday-Friday.  The government partial shutdown has begun a third week.  Debt ceiling […] More

Slew of Second-Tier Central Bank Policy Decisions

September 12, 2013

The Reserve Bank of New Zealand left the Official Cash Rate at 2.5%, its level since March 2011, but gave a stronger indication that such will be raised in 2014. Bangko Sentral ng Pilipinas retained a 3.5% reverse repo rate and a 5.5% repo rate as expected.  Officials expect in-target inflation over the forecast horizon. […] More

Partial Correction

June 12, 2013

Today saw a somewhat better market tone.  Japan’s Nikkei recovered most of its initial 2% drop to close down only 0.2%. Share prices have climbed 1.8% in Spain and gained 1.9% in Indonesia, but declines were posted in Australia of 0.7%, South Korea of 0.6%, and Taiwan and India of 0.5%. The Australian and New […] More

Data Highlight Disinflation But Bond Yields Rise

May 14, 2013

The 10-year Japanese JGB yield jumped another ten basis points to 0.84%.  The 30-year JGB auction had a yield of 1.775%, 28 basis points higher than the prior one.  Ten-year German bund and British gilt yields are a basis point firmer.  Spain’s auctions of six- and twelve-month sovereign paper drew a decent response with lower […] More

Awaiting the Fed’s Press Conference

December 12, 2012

There’s been no breakthrough in the U.S. fiscal negotiations.  House Speaker Boehner rejected the White House plan of $1.4 trillion of budget cuts. The FOMC is expected to announce an aggressive extension of quantitative easing.  The existing Operation Twist is scheduled to last only through end-2012.  The FOMC decision will be announced at 12:30 EST, […] More