Euroland retail sales

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July 5, 2017

U.S. markets reopened after the long Independence Day holiday break. Investors were greeted by the release of many more June purchasing manager survey results and have a number of events to get through. FOMC minutes will be released today. President Trump is embarking on his second trip abroad as president. He will be attending the […] More

Flight to Safety

June 6, 2017

Investment safety is taking precedent over investment return this morning. Sovereign debt yields are considerably lower, including drops of five basis points in 10-year Treasury futures and British gilts. The 10-year German bund yields is down 3 bps, and its Japanese counterpart has dipped a basis point. The yen climbed 1% against the dollar to […] More

Euro Climbs against Dollar and Yen

May 4, 2017

Several themes were in play on Thursday. A contentious French presidential candidate between centrist Macron and the far-to-the-right Le Pen was considered won by Macron, who already leads in polls. A victory for him in this Sunday’s run-off election would prevent Frexit. Service sector purchasing manager survey results in April show Euroland growing at an […] More

Gold and Yen Stronger but Stocks, Bond Yields, and Emerging Market Currencies Decline

April 5, 2016

The yen is 0.6% stronger on balance, powered by a fresh wave of safe-haven seeking capital flows.  Many service sector PMI reports were disappointing.  Japan’s index and its composite PMI fell to one-year lows, for example.  The yen touched 110.26 per dollar, its most appreciated level since October 2014.  Comex gold rose 1.3% to $1,231.59.  […] More

Stronger Euro, Weaker Yen

March 3, 2016

The dollar rose as high as JPY 114.28 overnight, its strongest level since February 15.  It’s off that high currently but still up 0.4% on balance.  At the same time, the U.S. currency shows overnight losses of 0.6% against the New Zealand and Australian dollars, 0.4% versus the euro, 0.3% relative to the Swiss franc […] More

An Informing Day with Some Surprises

November 5, 2015

U.S. labor productivity unexpectedly rose last quarter and substantially so at that.  A gain of 1.6% on top of a 3.5% second-quarter increase resulted in a significantly smaller quarter-over-quarter 1.4% climb in unit labor costs.  Nonetheless, the big productivity picture remains soft, with a rise of just 0.4% between 3Q14 and 3Q15 versus 0.8% in […] More

Service Sector Purchasing Manager Survey Results Announced

May 6, 2015

The dollar fell 0.3% against the euro and loonie and 0.2% relative to sterling but is unchanged relative to the yen and yuan.  A 0.9% advance against the New Zealand dollar contrasts with a 0.7% drop relative to the Australian dollar. Asian stock markets are showing red on the screens, with drops of 2.6% in […] More

Important Data to Digest

October 3, 2014

Friday sees the release of service-sector PMI surveys for many countries, Euroland retail sales, the U.S. monthly jobs report, and U.S. and Canadian trade figures.  Investors also continue to assess yesterday’s ECB press conference and the tense and fluid situation in Hong Kong. Markets remain closed in China for the National Holiday and are closed […] More

Better Market Tone of Monday Still Holding

August 5, 2014

Service sector purchasing manager survey results for many economies and Ezone retail sales data are out.  There have also been announced interest rate decisions from central banks in India and Australia.  Investors now waiting for U.S. data and U.S. market leadership. The dollar has risen 0.3% against the loonie and Swiss franc, 0.2% versus the […] More

Dollar Broadly Lower

May 6, 2014

The dollar touched overnight lows of 1.3946 per euro, 0.9354 per Aussie dollar, 1.6980 per pound, CHF 0.8728, and JPY 101.7.  Net losses are 0.8% against the kiwi, 0.7% relative to the Australian dollar, 0.6% vis-a-vis sterling, 0.5% against the euro and Swiss franc, 0.4% versus the yen, 0.3% against the yuan and 0.2% relative […] More

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