German orders

Dollar Little Changed Ahead of Draghi Monthly Press Conference

November 6, 2014

The dollar is up 0.2% versus sterling and 0.1% relative to the loonie, unchanged against the kiwi and yuan, and down by 0.3% against the euro, 0.2% vis-a-vis the Swissie and Aussie dollar, and 0.1% relative to the yen. South Korean officials complained about the recent weakening trend of the yen and said more would […] More

Markets Seeking Direction from the ECB Today

June 5, 2014

Investors are marking time ahead of the ECB rate announcement and press conference at 11:45 GMT and 12:30 GMT, respectively.  Rates are expected to be cut slightly, and there probably will be other unconventional moves to promote bank lending.  Yesterday’s Federal Reserve Beige Book report had depicted modest to moderate continuing growth with low inflation. […] More

First Friday of the Month

December 6, 2013

Investors await U.S. and Canadian jobs figures.  Analysts project a 185K increase in U.S. employment.  A gain of 200K or more would goose speculation about earlier Fed tapering. Ahead of this key release, traditionally scheduled for the first Friday of the month, the dollar is unchanged against the euro and Aussie dollar, up by 0.3% […] More

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

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