German industrial orders

Central Bank Hit Parade

September 4, 2014

In a surprise move, the ECB cut all three of its interest rates by 10 basis points to a marginal lending rate of 0.30%, a refinancing rate of 0.05%, and a deposit rate of -0.2%.  All three rates had been cut in July.  Now markets await other possible steps like the purchase of ABS securities.  […] More

Bad Market News on Several Fronts

August 6, 2014

Share prices fell 1.1% in Japan and are down by 3.0% in Italy, 2.0% in Spain, 1.5% in Germany, 1.2% in Britain and France, and 1.1% in Switzerland thus far.  Earlier, stocks closed down 0.9% in India, 0.3% in China, Hong Kong, and South Korea and by 0.2% in New Zealand, Indonesia and Singapore. The […] More

Quiet Markets in Absence of U.S. Leadership

July 4, 2014

Overnight dollar movements on this 238-year U.S. birthday amount to 0.2% or less. The notable change is a 1.35 handle on EUR/USD. Share prices in the Pacific Rim went up 0.6% in Japan and Australia, 0.5% in India, 0.4% in New Zealand and Indonesia but slipped by 0.1% in China and South Korea.  In Europe, […] More

Optimism Ahead of U.S. Jobs Report

April 4, 2014

The U.S. Labor Department report is eagerly awaited for confirmation that the U.S. shook off its winter doldrums.  Economists have predicted a better 190K advance in nonfarm jobs, but the whisper numbers in the street go as high as 250K in the wake of Wednesday’s ADP private employment estimate.  The jobless rate is seen falling […] More

Further Rise of Share Prices Ahead of ECB Event

March 6, 2014

Stocks have risen 1.6% in Japan, 1.1% in India, 0.9% in Taiwan, 0.8% in New Zealand, 0.6% in Hong Kong and Indonesia, and 0.5% in China.  In Europe, equities are up so far by 1.3% in Spain, 0.7% in France, 0.3% in Germany and Switzerland, and 0.2% in Britain.  The dollar fell overnight by 0.8% […] More

Waiting to See if ECB Eases Today

February 6, 2014

The euro is 0.1% softer against the dollar ahead of a key monthly meeting of the ECB Governing Council, which meets amid mounting concern about deflation. Meanwhile, the Bank of England Monetary Policy Committee as expected just announced no changes in its 0.5% Bank Rate or in the GBP 375 billion ceiling on its asset […] More

Euro a bit Lower Despite Positive German Data

January 8, 2014

The dollar climbed overnight by 0.3% against the loonie, 0.2% versus the euro, Swiss franc and yen and 0.1% relative to the kiwi.  Sterling is 0.1% stronger, and the yuan and Aussie dollar are unchanged against the greenback. The Nikkei rebounded 1.9%, helped by a softer yen.  In other markets around the Pacific Rim, stocks […] More

Euro Sharply Higher Against Yen

March 7, 2013

The spotlight today has been on central bank activity. Shirakawa’s outgoing Bank of Japan Board stuck to the status quo, but significant further easing is expected next month from the new BOJ leadership team. The European Central Bank also made no changes but accentuated issues that tend to buoy the euro.  Growth forecasts were lowered, […] More

Another Day Closer to Yearend and a Downgrade of Greek Debt

December 6, 2012

The currency markets are mostly calm.  The dollar is unchanged against the euro and loonie, down 0.1% relative to the yen and sterling, and up 0.1% versus the yuan and Swiss franc.  The U.S. currency has lost 0.4% against the kiwi and 0.3% versus the Australian dollar. Stock market movements overnight have been diverse.  Japan’s […] More

Judgement Day in America

November 6, 2012

Today’s U.S. presidential election outcome is generally considered too close to call.  Representing world opinion, the Economist and Financial Times endorsed Obama despite reservations about his first term. In a surprise to many analysts, the Reserve Bank of Australia declined to cut the 3.25% Official Cash Rate further.  The Aussie dollar has climbed 0.7% against […] More

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