foreign exchange

Dollar Possibly on Course for a Perfect Storm of Uncertain Timing

July 10, 2017

A term often mentioned today in assessments of the Hamburg Summit has been the G19. With the United States delegation marching to its own drumbeat, the other nineteen governments agreed to coordinate on a host of policies for their mutual benefit and to proceed in effect as a Group of Nineteen. If the U.S. renounces […] More

June and the Second Quarter in Figures

July 1, 2017

As in the previous quarter, a slide in the price of oil was a key development during the second quarter, and half of this move occurred in June. Gold also lost value both in June and the whole quarter. A second theme of the period was a shifting view about future monetary policies in the […] More

April in Figures

April 29, 2017

In April, ten-year sovereign debt yields fell a little more sharply in the United States than other economies, but the dollar was mixed, falling against the euro, sterling, and Swiss franc but not the yen. The dollar advanced solidly against commodity-sensitive currencies, and West Texas Intermediate crude oil slipped back below the $50 per barrel […] More

Fed Policy Still a Huge Influence on Dollar

February 21, 2017

The dollar appreciated broadly after the three-day U.S. holiday weekend despite ongoing worries about U.S. policies and strong preliminary February purchasing manager survey results for Euroland and Japan. The prime dollar mover came from remarks by Philadelphia Fed President Harker that a rate increase is possible as soon as the FOMC’s March meeting. Dollar overnight gains […] More

Stronger Dollar and a Few Central Bank Policy Meetings

February 7, 2017

The theme of tightening Fed policy and looser U.S. fiscal policy returned to the fore, lifting the dollar overnight by 1.1% against the euro, 0.8% versus the Swiss franc, loonie and sterling, 0.6% relative to the yen, 0.5% against the Australian dollar, 0.4% versus the Mexican peso and 0.3% vis-a-vis the New Zealand dollar and […] More

January in Figures

January 31, 2017

The slumping dollar was the fulcrum of financial market activity in January. Dollar lows for the month were hit on January 31 against the euro, yen, Swiss franc, Australian dollar and kiwi, and the monthly highs occurred on either the third of second day of the months. From their lows to their highs, the Aussie […] More

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

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