German orders

Central Bank Day

September 5, 2013

The Bank of Japan left its policy settings unchanged but expressed greater enthusiasm about the recovery’s progress.  Since April, the BOJ has engaged in heavy quantitative easing to achieve a 2% inflation rate. Bank Negara Malaysia retained a 3.0% key overnight interest rate, its level since May 2011.  The move was expected and made against […] More

U.S. and Canadian Jobs Day

July 5, 2013

Folks who took Independence Day off missed a lot of excitement, as both the European Central Bank and Bank of England took steps to control bond market damage caused by talk of Fed tapering.  See my reviews of the ECB and BOE actions.  Attention today now turns to the U.S. Labor Department employment report due […] More

Focus on Central Banks and Stock Market Behavior

June 6, 2013

Share prices fell sharply in Asia but are up in Europe.  Equities dropped 1.5% in Singapore and South Korea, 1.3% in China, 1.1% in Australia and Hong Kong and 0.9% in Japan.  Stocks are up 0.9% in Spain, 0.4% in France, and 0.2% in Germany but unchanged in the U.K. and 0.3% softer in Italy. […] More

Somewhat Firmer Dollar

February 6, 2013

The dollar has strengthened 0.8% against the Aussie currency, 0.6% versus the Swiss franc, 0.4% relative to the euro, 0.3% against the kiwi, 0.2% vis-a-vis the loonie and 0.1% against the yen and pound.  The yen touched overnight lows of 94.07 per dollar and 127.74 pr euro.  The Aussie dollar hit a 2-month low of […] More

Big Day for Central Bank Watching

September 6, 2012

The Aussie dollar has rebounded 0.5% against its U.S. counterpart in spite of soft Australian labor market data. The U.S. currency otherwise is unchanged against the yen and sterling and down by 0.3% against the kiwi, 0.2% relative to the loonie and 0.1% versus the euro, Swiss franc and yuan. High expectations ahead of the […] More

Street Expecting Good U.S. Jobs Report

January 6, 2012

Today is U.S. jobs day, and whisper numbers are conjecturing that non-farm payroll employment may have risen as much as 200K.  This optimism follows yesterday’s strong jobless claims and ADP private employment figures.  There appears to be more room for a reaction to weaker-than-forecast results. In the meantime, investors have other concerns, mostly but not […] More

Intensified Worries about Portugal, Ireland and Spain

July 6, 2011

Just when the peripheral debt crisis in Europe appeared to be ebbing, a downgrade by Moody’s of Portuguese sovereign debt to junk status (Ba2) has stirred that pot of fear anew.  Peripheral bond spreads versus Germany have widened, and the euro is lower.  Another usual victim of risk aversion, commodity-sensitive currencies, have been surprisingly resilient. […] More

Dollar Struggles Continue

June 7, 2011

The dollar fell 1.0% against the New Zealand dollar, 0.7% versus the euro, 0.6% against the Canadian dollar, 0.5% relative to sterling and 0.3% versus the Swiss franc.  The greenback is unchanged against the Australian dollar and 0.1% firmer relative to the yen. A senior Chinese official, Guan Ho, warned that the dollar is likely […] More

Investors Avoiding Risk as Central Banks Meet

May 5, 2011

The yen strengthened beyond 80/USD for the first time since March 18, touching a high of 79.58 and climbing 1.1% on balance. Central banks in Malaysia and the Philippines hiked key interest rates by 25 basis points today. Central banks are also meeting in the U.K., Euroland, and the Czech Republic.  Markets are positioned for […] More

Less Anxiety Than on Monday

March 8, 2011

Maybe because its Mardi Gras time, there’s less angst in the air.  Share prices, the dollar, and sovereign debt yields are up.  Focus of investor worry has swung somewhat back toward Europe’s debt problems from fear about the impact of elevated oil prices. Investors believe Qaddafi will be gone when the fighting stops.  Ahead of […] More

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