German business climate index

Holiday Closures Hit Pause Button

May 25, 2020

Markets on Monday lacked direction due to holiday observances in the United States for Memorial Day, Great Britain for its late Spring bank holiday, and many Islamic countries where Ramadan’s end is being celebrated. The dollar is unchanged from Friday’s close against the euro, Swiss franc, loonie and kiwi, while changes versus the yen, sterling, […] More

U.S. Fiscal Deal Gives Stocks Only Brief Lift

March 25, 2020

Today will be a very important day to watch U.S. stocks. There has yet to be two consecutive up sessions since the market peaked in mid-February. The big overnight news was a tentative accord between President Trump and the U.S. senate on a $2 trillion fiscal stimulus, which moves next to a full-senate vote today. […] More

Bracing for Impact But Investors Take a Pause

March 19, 2020

The count of identified global coronavirus infections (230,041) and deaths (9,386) has risen by 26,429 and 1,097 in the past 26 hours. Investors are getting a glimpse of just how bad the economic impact could be. The IFO Institute’s monthly index of Germany’s business climate fell 8.3 points in March to a 127-month low of […] More

Three Shocks to Investor Sentiment

January 27, 2020

It’s been a difficult day in the marketplace despite the closure of many markets including China, Australia, Hong Kong, Singapore, South Korea and Taiwan for Australia Day and the Chinese New Year. The safety of investments has displaced the usual priority of return on investment. The dollar advanced overnight by 0.7-0.8% against a number of […] More

Share Prices Strengthened on China Trade Concession and Favorable Corporate News

November 25, 2019

It’s been a risk-on start to this holiday-shortened week. Share prices rose 1.5% in Hong Kong, 1.3% in India, 1.0% in South Korea, 0.8% in Japan and 0.7% in China. European markets so far show gains of 0.4-0.6% in Germany, France, Italy, Spain and Switzeraland as well as a 0.8% jump in the British Ftse. […] More

Difficult Day in the U.K.

September 24, 2019

The Brexit crisis deepened today as the highest British court ruled unanimously that Prime Minister Johnson’s suspension of parliament was illegal. Just 37 days remain before the current October 31 deadline by which a Brexit deal must be worked out by the Johnson’s government, which at the moment appears highly improbable. On the data front, […] More

ECB and Turkish Monetary Officials Send Dovish Signals

July 25, 2019

The European Central Bank Governing Council left policy settings unchanged but signaled likelihood of a multi-pronged stimulus after September’s fuller review. A zero percent refi rate has been flanked by a negative 0.40% deposit rate and a 0.25% marginal lending facility rate since cuts made in September 2016. The ECB leadership is in transition; IMF […] More

Turkey and Iran in the News

June 24, 2019

The Turkish ruling party’s candidate was soundly defeated in Istanbul’s re-run mayoral election. This blow to President Erdogen’s autocratic regime sent the Turkish lira up 0.8% against the dollar. Iranian authorities are claiming that U.S. cyber attack against Iran’s rocket launch system were unsuccessful. Fears of a U.S.-Iran war persist. The price of WTI crude […] More

Hope Rises that Trade Talks with China and Border Wall Talks Can Be Resolved

January 25, 2019

Equities lately have been a better barometer than foreign exchange of optimism that the U.S. government shutdown will be resolved and that a re-escalation of U.S. and Chinese tariffs will be averted. On that score, it’s a good sign that in the Pacific Rim share prices closed up by 1.7% in Hong Kong, 1.5% in […] More

U.S. Share Prices Open Higher as Wednesday’s FOMC Decision Nears

December 18, 2018

The dollar is narrowly mixed with tiny downticks of 0.2% against the euro and yen and 0.1% relative to the Swiss franc, Aussie dollar and sterling offset by gains of 0.7% versus the kiwi and 0.5% against the peso. Stocks in the Pacific Rim tumbled 1.8% in Japan, 2.2% in Singapore, 1.4% in Hong Kong, […] More

css.php