French GDP

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

Little Happening on Good Friday 2016

March 25, 2016

Markets are closed for Good Friday in the U.K., Germany, Spain, Switzerland, Italy, Portugal, Australia, New Zealand, South Africa, Singapore, India, Brazil, Canada and the United States.  Greece is shut for Independence Day.  The Good Friday/Easter Monday holiday period tends to be one of the quietest market times of the year. Sure enough, the dollar […] More

Narrowly Mixed Dollar

December 23, 2015

The biggest dollar move overnight is a 0.5% slide against sterling.  Otherwise, the U.S. currency is down 0.2% versus the loonie and 0.1% relative to the yen, unchanged vis-a-vis the yuan, and up 0.2% against the euro, Swissie and kiwi and 0.1% firmer relative to the Aussie dollar. West Texas Intermediate crude oil was bid […] More

Abundance of Data, Some Central Bank Decisions, and a Saudi-Led Air Attack on Islamic Rebels in Yemen

March 26, 2015

In quickening activity, the dollar lost 0.8% overnight against the Swissie, 0.6% relative to the yen and loonie, 0.5% vis-a-vis the kiwi, 0.4% versus sterling, 0.3% against the euro, and 0.2% versus the Australian dollar.  The yuan slipped 0.1%. After Wednesday’s North American sell-off, stocks in the Pacific Rim and Europe are significantly lower.  Stocks […] More

Awaiting Several U.S. Data Releases Today Before the Xmas Break

December 23, 2014

The U.S. data release calendar today encompasses the final estimate of 3Q GDP plus monthly personal income and spending, durable goods orders, new home prices, the FHFA house price index, the Richmond Fed manufacturing index, and the Reuters/U. Michigan consumer sentiment index.  Weekly chain store sales also get reported. In the meantime, the release of […] More

Risk Aversion is Back

September 23, 2014

Share prices in the Pacific Rim fell 1.6% in India, 0.6% in Indonesia and 0.5% in Taiwan and South Korea.  Japan was closed for the Autumnal Equinox holiday.  Downward equity momentum has picked up in Europe, with losses so far of 1.6% in France, 1.3% in Great Britain, 1.1% in Germany, Italy and Spain, and […] More

Confidence in Europe Hurt by Cyprus Situation

March 27, 2013

Cypriot banks will reopen tomorrow with capital controls.  Uninsured large depositors have taken a big hit. The euro sank as low as $1.2787, its weakest dollar value since November 21, 2012. There is fear of contagion in Europe.  While stocks in the Pacific Rim closed mostly higher, European equities are down 1.7% in Spain, 1.2% […] More

Lots of Released Data on Final Business Day of the Quarter

September 28, 2012

Share prices rose in the Pacific Rim but are mostly lower in Europe.  Investors are again focused on Spain, where the 2013 budget was unveiled yesterday and bank stress test results are due today.  The fiscal deficit is projected at 4.5% of GDP, down from 6.3% in 2012.  Italian Prime Minister Monti opposes new conditions […] More

Some Soft European Data Released

March 28, 2012

The dollar is narrowly mixed this Wednesday, with overnight declines of 0.3% against the yen and 0.2% versus the euro and Swiss franc offset by gains of 0.4% relative to the Australian dollar, 0.2% versus the kiwi and sterling and 0.1% against the loonie.  The yuan is unchanged. Share prices slumped 2.8% in China.  Elsewhere […] More