foreign exchange

March and First Quarter 2018 in Figures

March 31, 2018

March was a difficult month for equities, largely because of Fed tightening, U.S.-inspired geopolitical uncertainty, and trade war fears. Nevertheless, U.S. share price losses in the first quarter of 2018 were generally smaller than declines recorded in other countries. Despite higher short-term interest rates during March especially in the United States and Great Britain, year-to-date […] More

February in Figures

February 28, 2018

February was unlike January. The dollar had declined across the board in the first month of 2018, but declined, except against the yen, during February. Likewise, share prices performed well in January but experienced a difficult February, including the biggest U.S. monthly drop in just over two years. Stocks were spooked by speculation that the […] More

Weaker Dollar This Monday

February 26, 2018

The U.S. and Canadian dollars fell overnight by 0.5% against the yuan, kiwi, and sterling, 0.3% relative to the euro and Australian dollar, 0.2% versus the Swiss franc and 0.1% vis-a-vis the yen. The dollar also lost ground against several emerging market currencies. It’s 0.8% softer, for instance, against the Russian ruble. February 26th happens […] More

Dollar Lifts as U.S. Markets Reopen

January 16, 2018

Following the three-day U.S. holiday weekend, the dollar has recovered 0.4% against the kiwi, 0.3% versus the euro and sterling, 0.2% relative to the yen and Aussie dollar and 0.1% against the Swiss franc. The loonie and yuan are unchanged, and the peso advanced another 0.4%. Share prices rose 1.8% in Hong Kong, 1.0% in […] More

Market Eyes U.S. Tax Bill

December 19, 2017

President Trump’s signing of a broad tax bill appears fairly imminent. The House of Representatives will vote on the bill today; passage is assured. A senate partisan vote, where Republicans hold a narrower majority, could occur late today and most likely no later than Wednesday. Equities in Asia mostly advanced overnight after a strong U.S. […] More

Strong U.S., Japanese, Chinese, French and Canadian Data Reported and Brexit Talks Take a Step Forward

December 8, 2017

There have been some impressive stock market advances overnight in Asia (Japan 1.4%, Hong Kong 1.7%, Singapore 1.1%, and India 0.9) and Europe (Italy 1.3%, Germany 0.9%, Spain 0.8% and the U.K. 0.7%). The S&P is 0.4% firmer in early U.S. trading. The dollar is closing out the week on a high note, having risen […] More

November in Figures

November 30, 2017

The dollar fell mostly during November, constituting a change in direction from movements in October. Nonetheless, U.S. stocks recorded impressive gains just as they had the month before. Japanese share prices also climbed sharply in November, but many European stock markets declined. Investors became more confident that the Federal Reserve would hike interest rates in […] More

A Noteworthy Week to End with the Release of U.S. Monthly Labor Market Data and the Start of Trump’s 11-Day Trip to Asia

November 3, 2017

Over the past week, Republican lawmakers pressed hard in their quest to pass a major tax cut by Christmas. Jerome Powell, viewed widely as a continuity choice, was nominated to be the next Federal Reserve Chairman. The Bank of England raised its interest rate for the first time since July 2007. The latest British purchasing […] More

October in Figures

November 1, 2017

Whereas September had experienced upward pressure on long-term interest rates, October had a slight downward bias. The rhetoric after central bank meetings in Japan and Euroland was a bit more dovish than expected, leaving an impression there will not be an initial interest rate hike in 2018 by either. Stock markets performed will during October, […] More

September and Third Quarter in Figures

October 1, 2017

The Fed, ECB, and BOJ did not change monetary policy during the third quarter, so short-term interest rates were very stable. But more hawkish talk from the Fed and ECB, a surprise Bank of Canada rate hike, and higher British inflation lifted longer-term rates in those economies during the quarter. A mixed dollar in August […] More

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