foreign exchange

Markets Calmer than Yesterday

January 13, 2017

After slumping Thursday, the dollar is unchanged today against the yen, Australian dollar, loonie and sterling. The greenback slipped a mere 0.2% against the euro, Swissie and peso since Thursday’s close and is down 0.1% vis-a-vis the yuan and kiwi. The Japanese Nikkei recovered 0.8%. Elsewhere in the Pacific Rim, equities have fallen 0.8% in […] More

Sinking Dollar

January 12, 2017

President-Elect Trump’s press conference yesterday was contentious and uninformative with regard to coming policy specifics, leaving investors confused, disillusioned and scared. The dollar, which had rallied since the U.S. election, suffered significant overnight losses against advanced and emerging market currencies alike. The greenback lost 1.2% against the yen and peso, 1.0% relative to the kiwi, […] More

Greater Calm

January 10, 2017

Not much is happening this Tuesday. Several data releases corroborate other recent indications of improving global growth, mounting confidence, and rising inflation around the world. The dollar is unchanged against the euro and Swiss franc, up 0.1% versus the Australian and Canadian monies as well as sterling but down 0.2% relative to the yuan and […] More

Market Jitters as January 20th Nears

January 9, 2017

European share prices have so far today lost 1.6% in Italy, 0.8% in Greece, 0.6% in Spain, 0.5% in Germany, and 0.3% in Switzerland. Japanese markets were shut for Coming of Age Day. Stocks elsewhere in the Pacific Rim rose 0.9% in Australia and 0.5% in China and New Zealand but fell 0.6% in Indonesia. […] 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

More Surprises

January 3, 2017

German inflation accelerated sharply in December. The Chinese manufacturing purchasing managers index compiled by Caixin rose a full point to a 47-month high of 51.9 in December. The production subindex reached its best level since January 2011. A Kuwaiti decision to reduce oil production sent WTI crude up 2.1% to $54.87 per barrel, highest since […] More

December and 2016 in Figures

December 31, 2016

Although the federal funds rate was raised three fewer times in 2016 than many U.S. monetary officials were expecting a year ago, short-term interest rate differential moved significantly more in favor of U.S. assets over the course of the year. This shift was reflected in 10-year bond yield spreads between the United States and both […] More

Dollar, Bond Yields, and Japanese Nikkei Slip

December 29, 2016

The dollar fell overnight by a further 0.5% against the yen, 0.4% relative to the euro, Aussie dollar and kiwi, 0.3% versus the loonie, peso and Swiss franc, 0.2% against sterling and 0.1% relative to the yuan. The Japanese Nikkei dropped 237 points (1.3%). Equities in Europe are down 0.3% in Spain and the U.K., […] More

Sovereign Debt Yields Lower on Last Business Day Before Christmas

December 23, 2016

Ten-year sovereign debt yields retreated four basis points in Germany and Italy, three bps in U.K., France and Canada and two bps in the United States. Japan’s market is shut to commemorate the Emperor’s birthday. The dollar slipped 0.2% overnight against the euro and yen but climbed against commodity-sensitive currencies and sterling. The greenback is […] More

Japanese Satisfaction Evident with a Weakening Yen

December 20, 2016

The yen fell 0.8% against the dollar after the Bank of Japan left its accommodative monetary stance unchanged despite a sharply lower yen. Governor Kuroda dispelled any thought of a possible rate hike, noting that depreciation lifts import prices, overall inflation, growth and expected inflation. The dollar also advanced 0.5% against the pound, 0.3% versus […] More

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