French business sentiment

Equity Market Volatility Picks Up

February 8, 2018

It’s been another difficult day for equities. Today’s session started fine enough, with gains of 1.0% in India, 0.5% in South Korea where the Winter Olympics are getting under way, and 0.4% in Hong Kong. These up-moves balanced declines of 0.4% in Japan and 1.4% in China where a considerably smaller trade surplus for January […] More

Tax Bill Aftermath

December 21, 2017

The most prominent market reaction to the U.S. tax overhaul has been the rise in long-term interest rates, although the U.S. 10-year Treasury yield settled back two basis points in overnight futures trading. The 10-year gilt and 10-year German bund yields rose another 2 and 1 basis points. Congress is not trying to avert a […] More

Dollar Strengthens

September 26, 2017

The dollar rose overnight by 0.8% against the kiwi, 0.6% versus the Aussie dollar, 0.5% vis-a-vis the Swiss franc, 0.4% relative to the euro and 0.3% versus the yen, loonie and sterling. Stocks in the Pacific Rim dropped 0.8% in Taiwan, 0.5% in Indonesia, 0.3% in Japan and South Korea, and 0.2% in Australia but […] More

Better European Data, More Leaked Allegations on Trump, and a Terrorist Bomb Attack

May 23, 2017

The German business climate index compiled by the IFO Economic Institute increased 1.6 points in May to the highest level since German unification, a reading of 114.6. Current conditions went up 1.9 points, and expectations climbed 1.3 points in the latest month, prompting IFO officials to call the business mood euphoric and the pace of […] More

Stocks Fall and Dollar Rally Pauses

August 25, 2016

Today’s shocker came from the German IFO Institute’s monthly business climate index, which dived 2.1 points in August to a 6-month low of 106.2. Current conditions (down 2.0 points to a 7-month low) and business expectations (off 2.0 points to a 6-month trough) shared equally in this considerably weaker than expected outcome. Several data reports […] More

Sharply Weaker Yen

July 11, 2016

The yen lost 2.1% against the dollar, notching its biggest daily decline in 11-1/2 weeks. ┬áThere has not been reported intervention, but Sunday’s upper house parliamentary election, won strongly by Prime Minister Abe’s LDP Party, clears the way for more aggressive macroeconomic stimulus there. Half of the 242 seats in Japan’s House of Councillors were […] More

Pound Up on Reduced Brexit Fears

May 24, 2016

A new phone poll by Daily Telegraph revealed a widening margin of voters favoring Britain staying in the European Union (55% to 42%), and sterling rose 0.9% against the dollar in response. The U.S. currency otherwise climbed 0.9% against the Aussie dollar, 0.6% versus the kiwi, 0.3% vis-a-vis the euro and yen, 0.2% relative to […] More

Several Trade Reports and an OECD Semi-Annual Outlook

November 9, 2015

The dollar is mostly softer.  Stocks are mostly lower, but gold, oil, and some bond yields are up. The dollar depreciated overnight by 0.4% against the euro and kiwi, 0.3% versus sterling and the Swiss franc, and 0.2% relative to the loonie and Aussie dollar.  The U.S. currency, in contrast, rose 0.2% against the yen […] More

Weaker-than-Expected PMIs and a Market-Moving Comment from John McDermott

April 23, 2015

The kiwi slumped 1.4% after Reserve Bank of New Zealand Assistant Governor McDermott said that policymakers are not currently contemplating a further rise in the official cash rate. Otherwise the U.S. currency fell overnight by 0.6% against the Swiss franc and 0.1% versus the euro but rose by 0.4% relative to the Australian dollar, 0.2% […] More

Dollar’s Recent Gains Trimmed

August 27, 2014

The dollar has declined overnight by 0.5% against the Canadian and New Zealand dollars, 0.4% versus the Aussie dollar, 0.2% relative to sterling and the Swiss franc and 0.1% vis-a-vis the yuan, yen and euro. While not a big day for scheduled data reports and despite an open-ended ceasefire agreed in Gaza, minor European confidence […] More

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