German industrial orders

An Informing Day with Some Surprises

November 5, 2015

U.S. labor productivity unexpectedly rose last quarter and substantially so at that.  A gain of 1.6% on top of a 3.5% second-quarter increase resulted in a significantly smaller quarter-over-quarter 1.4% climb in unit labor costs.  Nonetheless, the big productivity picture remains soft, with a rise of just 0.4% between 3Q14 and 3Q15 versus 0.8% in […] More

Rate Hike in the U.K. Unlikely Until 2016

August 6, 2015

Sterling fell 0.6% overnight against the dollar, which otherwise shows gains of 0.2% versus the Swiss franc and Aussie dollar but losses of 0.4% relative to the kiwi and 0.1% vis-a-vis the loonie and euro.  The yen and yuan are unchanged against the dollar. Share prices declined 1.1% in Australia, 0.9% in Indonesia and China, […] More

Markets React Uneasily to Yesterday’s Remarks by Fed Chair Janet Yellen

May 7, 2015

The big uncertainty for some time has been whether markets and economies could handle a rising trend in the federal funds rate and whether inability to do so might deter Fed officials from getting the policy stance to where it wants.  The gist of Yellen’s remarks on Wednesday is that there is no alternative to […] More

Euro Weakened Further

January 8, 2015

The dollar is trading currently near its new peaks of $1.1754 per euro and CHF 1.0218.  The dollar is now 0.7% higher against those currencies than at Wednesday’s close.  The dollar also rose 0.6% against the yen and 0.3% versus sterling but has fallen by 0.3% relative to the Australian dollar and 0.1% against the […] More

U.S. Jobs Friday

December 5, 2014

U.S. and Canadian November jobs figures get released at 08:30 EST (13:30 GMT).  Ahead of such, the dollar is mostly firmer.  Share prices rose overnight in Europe, commodities are softer, and 10-year German bund and Japanese JGB yields have edged lower. The dollar is 0.7% higher against the yen and comfortably above the 120 barrier […] More

Euro Firmer Despite Some Poor German Data

October 6, 2014

The dollar is generally softer, with losses of 0.7% against the Australian currency, 0.4% versus the yen and loonie, 0.3% relative to the euro, 0.2% against the kiwi and Swiss franc and 0.1% vis-a-vis sterling.  European share prices have risen 1.0% in Spain, 0.8% in Germany, 0.5% in Switzerland, 0.4% in Italy, 0.3% in Britain […] More

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