German industrial orders
Waiting for Friday’s U.S. Jobs Report
October 6, 2016
The dollar firmed 0.4% against the Swiss franc and Aussie dollar, 0.3% relative to sterling, 0.2% versus the euro, loonie and kiwi, and 0.1% against the yen. Chinese markets remain closed. Tomorrow’s jobs reports is not expected to dampen current speculation that the Fed will tighten by December and maybe even in November. Oil’s upward […] More
Message of Jackson Hole Didn’t Stick
September 6, 2016
Speeches and various comments emerging from the Jackson Hole Symposium late last month had been coordinated to plant in investors’ minds the notion that the Fed would be raising its interest rate sooner than assumed and that two hikes before yearend in fact remained possible. The shift in market psychology was only fleeting, however, and […] More
Markets Moved by Fed Rhetoric and British Opinion Surveys
June 6, 2016
With less than three weeks until the U.K. voter referendum on whether to remain part of the European Union, two surveys showed more people wanting to exit than to stay, although the margin was narrow in each case. Sterling has fallen 0.7% against the dollar, but the Ftse is 1.0% stronger. Commodities are up in […] More
Mark Time March Ahead of U.S. Jobs Report
February 5, 2016
In a week that’s seen the dollar drop its most in several years, the U.S. currency shows scant net change overnight, dipping 0.1% versus the loonie, Swissie and kiwi while edging 0.1% higher against the yen, euro and Aussie dollar. The greenback has gained 0.2% relative to sterling and is unchanged versus the yuan. Equities […] More
Intensifying Market Volatility
January 7, 2016
What’s hot: Traditional hard currencies like the yen, euro and Swiss franc. Also Treasuries and other sovereign debt. Also gold. What’s cold: Oil and other commodities. Commodity currencies, the renminbi, sterling and the dollar. Equities and other risky assets. Market movements: The dollar has appreciated 1.2% against the Australian dollar, 0.6% versus the yuan, 0.5% […] More
Intensifying Market Volatility
January 7, 2016
What’s hot: Traditional hard currencies like the yen, euro and Swiss franc. Also Treasuries and other sovereign debt. Also gold. What’s cold: Oil and other commodities. Commodity currencies, the renminbi, sterling and the dollar. Equities and other risky assets. Market movements: The dollar has appreciated 1.2% against the Australian dollar, 0.6% versus the yuan, 0.5% […] More
Winding Down a Rollercoaster of a Week
December 4, 2015
The first week of December already had included weaker-than-expected monetary support from the ECB, weaker U.S. purchasing managers indices, mounting rhetorical evidence that the federal funds rate will be hiked this month, softer core inflation in the eurozone, public remarks from central bank chiefs in the U.S., Britain, Euroland, Japan, Australia, and Canada, and a […] More
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
