German GDP

Oil Prices Sink Sharply to One-Year Low

November 23, 2018

The price of West Texas Intermediate crude oil dived 6.9% to $50.44 per barrel. Gold has fallen 0.4%. There was no trading in Japan due to the Labor Thanksgiving holiday. The dollar edged 0.2% lower against the yen overnight but rose 0.4% against the euro, 0.3% relative to sterling, and 0.2% vis-a-vis the Swiss franc. […] More

Dollar Down, Stocks Mixed Ahead of Powell’s Speech at Jackson Hole

August 24, 2018

The dollar posted overnight declines of 0.7% against the Aussie currency, 0.5% relative to the Chines yuan, 0.4% against the kiwi, 0.3% vis-a-vis the euro and sterling, 0.2% versus the Mexican peso and Swiss franc and 0.1% relative to the loonie. Share prices in the Pacific Rim rose 0.9% in Japan, 0.5% in South Korea, […] More

Turkey Attempts to Stop Lira’s Rout… Other Geopolitical Strains Simmer

May 24, 2018

The Central Bank of the Republic of Turkey hiked the late liquidity window interest rate by three full percentage points to 16.5% after the Monetary Policy Committee held an unscheduled meeting. The lira had been plunging in one-sided market conditions but rebounded over 6% following the announcement. Italian Prime Minister-Designate Conti met with party leaders, […] More

Mixed Market Action This Friday

February 23, 2018

The dollar fell overnight by 0.4% versus the peso, 0.3% against the yuan and sterling and 0.2% relative to the loonie but rose 0.5% against the kiwi, 0.1% versus the yen, and 0.2% vis-a-vis the euro, Swiss franc and Aussie dollar. Likewise, while Asian equities enjoyed a strong session, ones in Europe failed to retain […] More

Upbeat ECB Minutes Lift Euro

January 11, 2018

Minutes of the December ECB Governing Council meeting seem to proclaim the beginning of the end of the central bank’s ultra-easy stance. Quantitative settings were not changed, and a continuing determination to complete the current campaign of quantitative stimulus was projected. But the following paragraph initiates a coming shift in forward guidance. ┬áIt was argued […] More

Reduced Fear of Korean War

August 15, 2017

Today is the 72nd anniversary of Korea’s liberation from Japan, and markets there are closed. Reported remarks by the leaders of both Korean nations dispelled fear of an imminent resumption of war. Markets were also closed today in India for a holiday commemorating the 70th anniversary if independence and Italy for Assumption Day. The dollar […] More

U.S. Political Landscape Goes Deeper into the Rabbit Hole

May 12, 2017

President Trump gave an entirely different explanation for the firing of the FBI director than had other officials earlier. Democrats are crying foul while Republicans are standing by their man. Euro area industrial production fell 0.1% in March for a second straight month, undershooting expectations. Output was unchanged in the first quarter and also flat […] More

Sovereign Debt Yields Fall Further Despite FOMC Minutes

February 23, 2017

10-year sovereign debt yields are down 5 basis points in The Netherlands, 4 bps in France (helped by a Macron/Bayrou political agreement to support one another against the Far Right), 3 bps in Britain, and 2 bps in the U.S. and Germany. Minutes from the FOMC meeting of January 31/February 01 reveal a widely held […] More

Investors Continue to Mark Time Ahead of Jackson Hole Symposium

August 24, 2016

Overnight the dollar rose 0.2% against the euro and 0.1% versus the Swiss franc but slipped 0.3% against the kiwi and 0.2% relative to sterling. There’s been no net change vis-a-vis the yen or Aussie dollar. Share prices rose 0.7% in Singapore, 0.3% in India and 0.6% in Japan but fell 0.7% in Hong Kong […] 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

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