German industrial orders

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

The Fickle Nature of Investor Anxiety about a Trade War

April 5, 2018

Flip-flopping attitudes about the likelihood of a full-fledged intensifying trade war between China and the United States continues to be a big source of day-to-day changes in market behavior. There was panic earlier this week. Today, investors believe Trump and Jinping will negotiate a truce and forestall a trade meltdown. One problem with such optimism […] More

More Evidence of Strong Growth in the Euro Area

January 8, 2018

Economic sentiment in the euro area leaped 1.6 points to a December reading of 116.0, best since October 2000. Sentiment improved across the board — industry, households, services, retail, and construction. A separate measure, the business climate index, rose 1.7 points to the best score ever in this data series dating back to 1985. The […] More

Stocks Continue Week’s Retreat

December 6, 2017

Equities sold off 2.9% in Hong Kong, 2.0% in Japan, 1.6% in Taiwan, 1.4% in South Korea 1.2% in Singapore and 0.7% in New Zealand. Losses today in Europe so far amount to 1.0% in Germany, 0.5% in France and Spain, 0.4% in Italy and 0.3% in Switzerland. Technology has been hit hardest. With no […] More

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