German industrial production

Different Responses to Terrorism

December 7, 2015

President Obama gave a rare nationwide address Sunday in prime time, stressing the difficulty of combating terrorist acts like the one in California last week but urging calm. ¬†Hysteria and broad characterizations play into enemy’s intent. In the first round of French regional elections, the right-wing National Front claimed the most popular votes and won […] More

Holiday Closures in the United States and Canada

September 7, 2015

Financial markets today will lack the leadership of North American participation due to Labor Day closures in the United States and Canada. The dollar is mixed, dropping 0.6% against sterling, 0.4% versus the Aussie dollar and 0.1% relative to the euro but advancing 0.4% against the kiwi, 0.3% vis-a-vis the yen, and 0.1% relative to […] More

Focus Remains on Greece and China

July 7, 2015

There will be a summit today of eurozone leaders where the Greek government will submit its post-referendum proposal for a debt plan.  Many in the rest of Europe just want Greece to leave the common currency area, and the ECB has refused to increase Greece’s emergency aid under the ELA. Chinese share prices tumbled another […] More

Euro Down Ahead of U.S. February Labor Market Data

March 6, 2015

The euro fell in the wake of yesterday’s ECB press conference and is down an additional 0.9% against the dollar overnight, hitting a new low for the move of $1.0929.¬† The U.S. currency otherwise rose 0.2% versus the kiwi and 0.4% against the Swiss franc and sterling.¬† At the same time, the dollar has fallen […] More

New Wave of Anxiety over Europe

January 9, 2015

Share prices are down by 3.0% in Spain, 1.1% in Italy, 0.7% in Britain and France, and 0.6% in Germany. An unexpected 0.1% dip in German industrial production during November was reported today, along with news of smaller-than-forecast current account and trade surpluses that month and a 2.1% on-month decline in exports.  The EUR 18.6 […] More

A Slew of Data Releases to Start the New Week

December 8, 2014

Revised Japanese national income account statistics confirmed a technical recession in the world’s third largest economy.  Real GDP was revised to show a larger quarter-on-quarter decline in 3Q of 1.9% at an annualized rate.  Nominal GDP slumped 3.5% on quarter.  Real GDP had fallen by 6.7% at a seasonally adjusted annualized rate (saar) in the […] More

Currency Markets Stabilize Ahead of U.S. Jobs Report

September 5, 2014

In contrast to yesterday’s sharp advance, the dollar overnight was on balance unchanged against the loonie, kiwi, yuan, and yen — but not before breaking through a key support to a 6-year peak of JPY 105.72 earlier.  The dollar’s down 0.1% versus the Swissie and euro (after an overnight high of 1.2922 per EUR) and […] More

Markets Hardly React to Weak German Industrial Output Report

July 7, 2014

The dollar was unchanged overnight against the euro, Swiss franc, kiwi, Aussie dollar and yuan.  The greenback gained 0.2% versus sterling and 0.1% against the loonie but edged 0.1% lower relative to the yen. European stocks opened the week marginally lower following good gains last week.  Japan’s Nikkei lost 0.4%.  Equities rose 0.5% in India […] More

Many Central Banks Meet — Most Retain Existing Policy Stances

May 8, 2014

Central banks in Malaysia, Indonesia, Norway, and the Philippines left key interest rates unchanged at 3.0%, 7.5%, 1.5% and and 3.5%, respectively.  All these actions were as expected.  The National Bank of Serbia, in contrast, cut its key policy interest rate to 9.0% from 9.5%.  Next up is the Bank of England, then the ECB […] More

Post-Jobs Report Drop in Equities Extended in Europe

April 7, 2014

On an otherwise light day, share prices have fallen 1.2% in Frankfurt, Germany, 0.9% in Zurich, 0.7% in Paris and London and 0.5% in Milan and Madrid.  In the Pacific Rim, Japan’s Nikkei slumped 1.7%, and stocks dropped by 0.9% in New Zealand, 0.6% in Singapore and Hong Kong but advanced 0.8% in the Philippines.  […] More