German industrial orders
Greater Focus on the Economic Devastation of the Covid-19 Pandemic
May 6, 2020
The dollar appreciated overnight by 0.7% against the Mexican peso, 0.5% versus the British pound and Chinese yuan, 0.4% relative to the euro, 0.3% vis-a-vis the loonie, but just 0.1% against the Swiss franc and Aussie dollar. The dollar also lost 0.3% against the Japanese yen. Japanese markets remained shut for the last of the […] More
Markets Turning Increasingly Disorderly
March 6, 2020
Share prices are down over 3.0% in the U.K., France, Germany, Spain, Italy, and Switzerland even though a decent U.S. labor market report is anticipated. Equity markets in the Pacific Rim closed down 2.7% in Japan, 2.8% in Australia, 2.5% in Indonesia, 2.3% in India, 2.2% in South Korea, 2.0% in New Zealand and 1.9% […] More
Stocks and Dollar Up in Spite of Continuing Coronavirus Worries
February 6, 2020
Share prices today by 2.6% in Hong Kong, 2.4% in Japan, 1.7% in China, 1.5% in Taiwan, 1.0% in Singapore, 1.1% in Australia and 0.9% in South Korea and New Zealand. The German, French and Spanish stock markets are 0.7-1.0% higher. Although up just 0.3%, the U.S. market indices have set record highs. Today’s dollar […] More
A Steady Dollar
November 6, 2019
The dollar on balance remains near Tuesday closing levels. Gold is 0.3% firmer. The spate of recent increases in 10-year sovereign debt yields was reversed today with 3-basis point declines in U.S. Treasuries and British gilt yields and a dip of 1 basis point in the 10-year German bund yield. The Japanese 10-year JGB yield, […] More
Unsettling Geopolitical News Over the Weekend and Some Weak Data Released Today
October 7, 2019
The Brexit deadline is now 24 days away, and British Prime Minister Johnson is still insisting on leaving the EU at monthend with or without a deal. He’s unwilling to compromise further. U.S.-Sino trade talks resume Thursday, but it’s reported that while the U.S. wants a comprehensive agreement, China seeks a more limited scope in […] More
Problems Deepen in Europe But Appetite for Riskier Assets Returns
September 5, 2019
German industrial orders slumped 2.7% in July, almost twice as steeply as forecast. This wiped out June’s recovery and left orders 5.6% below their year earlier level. Demand weakness was broadly based across industrial sectors but more concentrated exports than domestic demand. The construction purchasing managers index in Euroland sank 1.5 points in August, sliding […] More
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
