Euroland trade surplus

Down Goes the British Pound

November 15, 2018

With British Prime Minister Theresa May facing a vote of no confidence and several of her cabinet ministers resigning in protest against her Brexit deal, sterling slumped 1.5% overnight against both the dollar and euro. Weak British retail sales data were also released today, showing an unexpected 0.5% on-month drop in total sales (+2.2% on […] More

U.S. Markets Shut but Dollar Still Slides

January 15, 2018

The United States is observing the birthday of Martin Luther King, Jr.┬áPresident Trump once again rejected the criticism that he’s a racist. The Bank of Japan has held a quarterly branch managers meeting and published its regional economic report. Three of the nine regions are experiencing improved conditions. Two regions are expanding, four are expanding […] More

Sterling Extends Rally

September 15, 2017

Sterling rose another 1.4% against the dollar overnight, at one point reaching $1.3617, which is the strongest level since the first day following last year’s Brexit referendum on June 23rd. The Bank of England has signaled that its first interest rate hike in a decade is likely to occur within a few months. It’s been […] More

Awaiting Important U.S. Data

July 14, 2017

U.S. statistics will be reported today on consumer prices, retail sales, industrial production and the Reuters/U. Michigan consumer sentiment survey. Market direction on the dollar and stocks awaits those reports. European sovereign debt yields fell overnight by six basis points in Spain, five bps in Italy, 3 bps in France, 2 bps in Germany and […] More

Dollar Up, Stocks Down on MLK Holiday

January 16, 2017

The United States is observing Martin Luther King’s birthday. The stock exchange and banks will be closed. But President-Elect Trump continues to make lots of news. In a wide-ranging interview with the European press, Trump did not back away from well-rehearsed previous themes. NATO is outdated. The U.S. will not remain its prime financier. Radical […] More

Festering Concerns

April 15, 2014

Russia appears to be doing to Eastern Ukraine what it did in Crimea, and the West seems powerless to resolve the crisis. A day ahead of China’s release of first-quarter GDP, analysts anticipate a sub-7.5% growth rate. The ZEW Institute measures of investor sentiment toward Germany and the euro area fell in March. Investors await […] More

Another Tumble in the Price of Gold

May 16, 2013

Commodities continue to lose favor.  Gold dropped 1.7% overnight to $1372.70 per ounce.  Oil fell by 0.9% to $93.43 per barrel. The commodity-sensitive currencies of Australia and New Zealand lost 0.9% and 1.0% against the U.S. currency overnight, which also advanced by 0.3% against the yen and loonie, 0.2% versus the euro, Swissie and sterling […] More