German industrial orders
Dollar Gives Back Part of Monday’s Sharp Gain against the Yuan
August 6, 2019
The yuan yesterday had slumped to 7.0525 per dollar, its weakest level since May 2008. In response, the U.S. Treasury released a protest, labeling Beijing a “currency manipulator.” This is the first such designation since 1994. By law, the Treasury reviews the currency policies of foreign governments every six months. The most recent review was […] More
Dollar Up but Stocks Down on Larger-than-Forecast Rise in U.S. Jobs
July 5, 2019
The dollar has recorded gains today ranging from 0.2% against the yuan and peso to 0.3% versus the loonie, 0.5% vis-a-vis the euro, 0.6% relative to the yen, Aussie dollar and sterling, 0.7% against the Swiss franc and 1.0% versus the kiwi. U.S. nonfarm payroll employment jumped 224k in June, 40% more than projected. Labor […] More
A Focus on Geopolitical Risk
May 7, 2019
U.S.-Sino trade talks are entering the final make-or-break stage. The Chinese delegation is coming to America, but the outcome of this final round of negotiations is much in doubt. Meanwhile, Secretary of State Pompeo abruptly canceled a trip to Germany, citing unspecified pressing matters. This mysterious cancelation raises the possibility of a major event risk […] More
A Dive in German Factory Orders, A Cut in Indian Interest Rates, and Still No Resolution on Brexit
April 4, 2019
German factory orders, which had been expected to edge marginally higher, instead plunged 4.2% in February following a 2.1% drop in January that left the combined January-February average 3.7% lower than the 4Q mean and February’s level 8.4% below a year earlier. Export orders sank 6.0% and domestic demand for capital goods, a leading indicator […] More
Aussie Dollar Down More than 1% Overnight
February 6, 2019
An overnight speech by Bank of Governor Lowe, not Donald Trump’s delayed State of the Union address, stole the currency market spotlight today. Forward guidance from the Reserve Bank of Australia had for some time pointed to an eventual interest rate increase, but Lowe said that in line with shifting economic data and changing global […] More
Decision Day in America
November 6, 2018
Market behavior today has been unremarkable, as investors around the world wait to see which vision of America has prevailed. The dollar has dipped 0.1-0.2% against the euro, Swiss franc, yuan, and Canadian, Aussie and New Zealand dollars. there’s been a 0.3% drop against the peso and sterling but a 0.1% uptick relative to the […] More
Sterling Slide Extended
August 6, 2018
The pound ended last week on a weak note after Bank of England Governor Carney flagged “an uncomfortably high” risk that Britain leaves the EU without any negotiated deal. That message was reinforced over the weekend by Trade Minister Fox’s perception of 60-40 odds in favor of no deal, and sterling slipped a bit below […] More
Stocks Up in U.S. and Europe After Dropping Overnight in Asia
July 5, 2018
Asian equities fell to 8-9 month lows overnight, including losses of 1.0% in Taiwan, 0.9% in China and 0.8% in Japan. The Trump Administration is set to impose more than $30 billion of additional tariffs on Chinese imports, and China plans to match that raise immediately. The weakness of Asian markets did not carry over […] More
Dollar Loses Ground
June 7, 2018
The dollar fell overnight by 0.9% against the euro, 0.5% versus the Swiss franc, 0.2% relative to the yen, and nearly 2% vis-a-vis the Turkish lira. The lira had been slumping this year on rising inflation, increasingly autocratic politics, and the central bank’s pressured neglect of its currency. A 75-basis point interest rate hike in […] More
WTI Oil Above $70 Per Barrel for First Time Since Thanksgiving 2014
May 7, 2018
Compared to closing levels before the weekend, the dollar has climbed 0.8% against the peso, 0.4% relative to the euro, 0.2% vis-a-vis the yen, Swiss franc and Australian dollar, and 0.1% vis-a-vis the yuan. Sterling and the Canadian dollar are 0.3% and 0.1% firmer, and the kiwi is unchanged. The Indonesian rupiah weakened through the […] More
