French GDP

Some weak European and Japanese Data

August 29, 2018

French GDP growth slowed to a 0.2% per quarter rate in the first half of 2018 from 0.7% per quarter in the second half of 2017. In the second quarter alone, personal consumption contracted for the first time since the summer of 2016. Imports advanced five times faster than exports, and net foreign demand exerted […] More

Dollar, U.S. Stocks, and Treasury Yields Little Changed After Strong U.S. GDP Report

July 27, 2018

U.S. GDP expanded 4.1% last quarter at a seasonally adjusted annualized rate. That was the fastest quarterly pace since the third quarter of 2014, but analysts had anticipated such a figure. Personal consumption, non-residential investment and government spending climbed 4.0%, 7.3% and 2.1%, respectively. Net foreign demand augmented the growth rate by 1.1 percentage points […] More

Stocks Up… Dollar and Yen Down

March 26, 2018

Equities recouped some of last week’s heavy losses in early trading. Share prices closed higher by 0.7% in Japan, 1.4% in India, and 0.8% in Hong Kong and South Korea. Equities in Europe so far show gains of 1.0% in Switzerland, 0.7% in Germany, 0.6% in Spain, 0.5% in the U.K. and 0.4% in France. […] More

Only Marginal Net Dollar Movement on a Newsworthy Friday

December 22, 2017

The approaching Christmas holiday, which has some markets closing early today, appears to have muted changes in the dollar, which has moved up 0.3% against the loonie, 0.2% relative to the euro, Swissie, and peso, and 0.1% vis-a-vis the yen and kiwi while slipping 0.2% relative to the Aussie dollar, 0.1% against the yuan¬† and […] More

The Wrath of Nature and North Korea Sends Markets into a Tizzy

August 29, 2017

So much for North Korean restraint in the face of Trump’s threat of “fire and fury” against that regime. North Korea fired a missile last night that sailed over Japan, seemingly calling the U.S. president’s bluff to prove how tough he can be. Meanwhile, Harvey continues to batter the Texas coast and is forecast to […] More

Mexican Rate Hike, Some Preliminary PMI Results, and a Trump Revelation

June 23, 2017

Mexico’s key central bank interest rate was hiked by an additional 25 basis points to 7.0%, bringing its cumulative rise to four percentage points from 3% prevailing from October 2014 through the early December 2015. However, Bank of Mexico officials suggested in a statement that no more tightening may be necessary. See review. The peso […] More

Concerns from Several Places

May 30, 2017

Markets in China and Hong Kong remain shut for the Dragon Boat Festival, but British and U.S. markets reopened following 3-day holiday weekends. European political uncertainty is one theme in early Tuesday trading. The outcome of the British election on June 8 is not assured, since opinion polls show a narrowing lead for Prime Minister […] 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

Rising Expectations of a Fed Rate Hike before Yearend

August 26, 2016

Today’s focus is on Janet Yellen’s address in Wyoming this morning. Ahead of that speech, markets are pricing more than even odds of a hike in the federal funds rate at one of the three remaining FOMC meetings this year and up to a 30% probability officials act at the September meeting. The dollar lost […] More

A Lot to Ponder in Spite of U.S. and British Holiday Closures

May 30, 2016

U.S. markets will be closed for Memorial Day, the unofficial start of summertime currency trading.  London markets are shut, too, for the late May Bank holiday. At the summit of G7 leaders held in Japan, a mixed agreement was reached not to engage in competitive devaluation but also protesting excessive exchange rate volatility.  Japan’s prime […] More

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