German GDP

Awaiting Janet Yellen’s Semi-Annual Humphrey-Hawkins Testimony

February 24, 2015

Day One of Fed Chair Yellen’s testimony on the economy and monetary policy begins at 10:00 before the Senate Banking Committee.  On Wednesday, she will reprise the testimony before the House Financial Services Committee.  The testimony comes amid rising Congressional hostility to an independent central bank.  Indeed, a major question before the American people in […] More

Swiss National Bank Lights a Firestorm and India’s Central Bank Also Surprises

January 15, 2015

There’s been a whole lot of shaking going on in world financial markets overnight. Dollar/Swissie plunged 14.2%, and Swiss equities have slumped 9.5%.  The trigger for these big moves was the Swiss National Bank’s abandonment of its 1.2000 franc per euro ceiling, which was imposed initially on September 6, 2011.  The cost of intervention was […] More

Mixed Data, Muted Market Changes

November 25, 2014

U.S. GDP growth in the third quarter was revised unexpectedly higher by almost a half percentage point to 3.9%.  The 2-quarter rise between 1Q and 3Q was the strongest in more than ten years.  The core PCE deflator inflation rate of 1.5% remains a half percentage point below target.  Growth was led by private domestic […] More

Euro Touches $1.3119, Weakest Level since September 6, 2013

September 1, 2014

Today is the 75th anniversary of Germany’s invasion of Poland that ignited the Second World War.  Germany is currently engaged in a philosophical dispute with the ECB and other European nations over the proper course of fiscal policy for the region. U.S. and Canadian markets will be closed today for Labor Day holiday observances. Precarious […] More

Sharp Decline in Chinese Yuan to a Four-Month Low

February 25, 2014

The yuan weakened 0.4% against the dollar, arousing some suspicion that Beijing officials may be orchestrating the slide as a protest against rising strains with the United States over a variety of geopolitical matters.  Share prices in China continued their retreat, falling by a further 2.6%. Bank of England Monetary Policy Committee member Ian McCafferty […] More

Equities Find Better Footing and Dollar Firmer, Too

January 15, 2014

The dollar rose overnight by 0.6% against the Swiss franc, 0.5% relative to the euro, 0.4% against the Aussie dollar, 0.2% vis-a-vis the loonie and kiwi, and 0.1% against the yuan, yen and sterling. Japan’s Nikkei rebounded 2.5% from a 3.1% slump the day before.  Equities also closed up 1.2% in India and Indonesia, 1.0% […] More

Aussie and New Zealand Dollars Weaken while Euro and Swissie Strengthen

November 22, 2013

The U.S. dollar has risen 0.7% and 0.6% against the Oz and kiwi but is 0.3% softer relative to the euro and Swiss franc.  The dollar also climbed 0.3% relative to the loonie and is unchanged vis-a-vis the yen, yuan and sterling. Share prices rose 0.9% in Australia, 0.6% in South Korea, 0.5% in Hong […] More

Revised German and British 2Q GDP Data Released

August 23, 2013

In a pretty nondescript summer Friday, the main development has been an upward revision of U.K. GDP growth of a 0.1 percentage point.  Such went up by 0.7% between the first and second quarters and was 1.5% greater than in the second quarter of 2012.  Quarter-over-quarter gains amounted to 0.4% in personal consumption, 0.9% in […] More

Stronger Tone in Equities

February 22, 2013

Stocks in Europe are up 1.4% in Italy, 1.3% in Spain, 1.7% in France, 1.0% in Germany, and 0.8% in Britain.  Share prices rose 0.7% in Japan, 1.1% in New Zealand, 0.8% in Australia, 0.5% in Hong Kong, 0.4% in Indonesia and 0.2% in South Korea, but China’s market fell by 0.5%. The U.S. dollar […] More

Yen Recovers over 1.0% after Official’s Comment

January 15, 2013

A wave of yen short-covering followed Economics Minister Amari’s warning against an excessive slide of the currency. German GDP growth slowed to 0.7% last year, a shade less than analysts anticipated, from 3.0% in 2011 and 4.2% in 2010.  The Fitch credit rating agency said a downgrade of the U.S. rating could be a consequence […] More

css.php