FOMC Minutes
Several Data Surprises
April 5, 2017
ADP reported a resurgence of private jobs in the United States, which they estimate climbed 263K in March. The Labor Department monthly report arrives Friday. But the U.S. non-manufacturing purchasing managers index compiled by the ISM fell back 2.4 points to 55.2, with business activity retreating 4.7 points to a reading of 58.9. Likewise, a […] More
FOMC Minutes
February 22, 2017
Minutes from the January 31/February 01 meeting of the Federal Open Market Committee policy review revealed little information that contradict general perceptions of the current thinking and contingent intentions of policymakers. The meeting was the first after the one in December that had raised the federal funds target by 25 basis points. Donald Trump had […] More
Euro Dips Briefly Below $1.05
February 22, 2017
Concerns that European nationalism may break the EU apart caused the euro to dip to an overnight and 6-week low of $1.0493 and 10-year sovereign debt yields to fall five basis points in The Netherlands, 4 bps in Germany, 3 bps in France, Italy and Britain. Equity markets in Continental Europe are down 1.0% in […] More
Dollar Drops Against Yen, Yuan and Peso
January 5, 2017
The dollar fell overnight by 1.3% against the Mexican peso, 0.7% relative to the Japanese yen and 0.6% vis-a-vis the Chinese yuan. The U.S. currency also lost 0.2% to the Swiss franc and 0.1% versus the euro, loonie and Australian dollar but rose 0.3% against sterling and 0.1% relative to the kiwi. Share prices climbed […] More
Lower Dollar as Investors Await FOMC Minutes
January 4, 2017
The dollar depreciated overnight by 0.8% against the loonie, 0.5% relative to the yuan and kiwi, 0.4% versus sterling, 0.3% vis-a-vis the euro and 0.2% against the yen and Australian dollar. Japan reopened for a half day, and the Nikkei rose 2.4%, catching up for lost time. In other Pacific Basin stock markets, equities rose 1.7% […] More
FOMC Minutes
May 18, 2016
Participants agreed that their ongoing assessments of the data and other incoming information, as well as the implications for the outlook, would determine the timing and pace of future adjustments to the stance of monetary policy. Most participants judged that if incoming data were consistent with economic growth picking up in the second quarter, labor […] More
Some Better PMI Results but Investor Mood Stays Guarded
April 6, 2016
Stocks in the Pacific Rim fell 1.7% in Taiwan and 0.1% in Japan and China but rose 0.4% in Australia, South Korea and Singapore. Share prices in Europe are mixed, with rises of 0.6% in the U.K. and Switzerland, 0.7% in Italy and 0.3% in France and Spain but drops of 0.7% in Greece and […] More
FOMC Minutes to Be Released Later Today
November 18, 2015
Meanwhile, more news emerged from Paris. Police stormed a suburban house where the architect was believed to be staying. Two dead, 7 arrested, 4 police injured in violent exchange. Also, bomb threats were made against some Air France flights. Share prices fell 1.0% in China, and the yuan strengthened somewhat. There was a bit a […] More
Dollar Lower after FOMC Minutes
October 9, 2015
The FOMC minutes from September’s meeting were not as hawkish as anticipated. Committee members didn’t raise rates because of concern that global developments like the stronger dollar and weaker Chinese demand might dampen U.S. growth and inflation in the future, and they therefore decided to delay the onset of rate tightening, pending data that will […] More
German and Japanese Current Account Data and a Bank of England Decision
October 8, 2015
The dollar fell overnight by 0.5% against the Swiss franc, 0.4% versus the euro, 0.3% vis-a-vis the loonie and 0.1% relative to the yen, yuan and kiwi. The greenback firmed 0.2% against the Aussie dollar. Share prices in the Pacific Rim rose 3.0% in China, whose market had been shut previously, and 0.7% in South […] More
