German retail sales

Last Day of the First Quarter

March 31, 2014

The dollar advanced 0.4% against the yen and 0.2% against the Australian and New Zealand dollars, but it is 0.3% softer versus the euro and Swiss franc and off 0.1% relative to sterling.  The loonie and yuan are steady.  The boost to risk aversion from the Ukraine situation seems to be fading, but rising tensions […] More

Poor European Data Throw Investors into a Risk-Off State of Mind

January 31, 2014

Share prices lost yesterday’s traction and have so far fallen 1.3% in Germany, 1.1% in France, 1.0% in Britain, Switzerland and Spain, and 0.9% in Italy. Most Asian bourses were shut for the Lunar New Year.  The celebrations of the Year of the Horse last five days in China. Japan’s Nikkei lost another 0.6%, falling […] More

Data Deluge, Press Report Denials, and Quarter-End

June 28, 2013

Lots of data were released on this final working day of the second quarter. Japanese figures show stronger inflation and activity. German retail sales also beats expectations.  German CPI inflation accelerated. Being the final trading day of the quarter, position-squaring could impact market action today. An unidentified ECB official called German press reports erroneous that […] More

May Ending in a Risk Averse Mood

May 31, 2013

Commodity-sensitive currencies had a difficult session.  The New Zealand dollar dipped below $0.8000 for the first time since September 6, 2012.  It fell as low as USD 0.7973 and is 1.0% weaker on balance.  The Australian and Canadian dollars have slipped 0.8% and 0.5% against the greenback, which also has appreciated by 0.4% against the […] More

Dollar Steady on Final Day of January

January 31, 2013

The dollar is unchanged against the yen, yuan, and Swiss franc, up 0.1% versus the euro, loonie, Australian dolar and sterling, and off 0.1% against the kiwi. Share prices in the Pacific Rim closed up 0.2% in Japan and Taiwan but down 0.6% in India, 0.5% in the Philippines, and 0.4% in Australia and Hong […] More

Lots of Released Data on Final Business Day of the Quarter

September 28, 2012

Share prices rose in the Pacific Rim but are mostly lower in Europe.  Investors are again focused on Spain, where the 2013 budget was unveiled yesterday and bank stress test results are due today.  The fiscal deficit is projected at 4.5% of GDP, down from 6.3% in 2012.  Italian Prime Minister Monti opposes new conditions […] More

Investors Brace for End-Month Flood of Information

July 31, 2012

Dollar movement overnight was limited to gains of 0.1% against the yen and sterling and losses of 0.3% versus the yuan, 0.2% against the euro, kiwi and Australian dollar, and 0.1% relative to the Swiss franc.  The loonie is unchanged against its U.S. counterpart. Share prices advanced 2.1% in South Korea, 1.6% in Taiwan, 1.1% […] More

Newfound Hope from the Brussels EU Summit

June 29, 2012

Markets responded positively to verbal progress on a number of fronts such as an EU growth pact of EUR 120 billion, ECB involvement in EU bank supervision, and better terms for recapitalizing Spanish banks.  We’ve seen this before, that is a pretense of greater cohesion at a big meeting, followed by a market rally, followed […] More

Firmer Dollar as EU Leaders Meet in Brussels

March 2, 2012

The dollar strengthened overnight by 0.6% against the kiwi, 0.5% relative to the yen and euro, 0.4% against the Swiss franc, 0.3% versus the Aussie dollar, 0.2% against sterling and 0.1% versus the Canadian dollar.  The yuan is steady.  Dollar/yen has advanced for four straight weeks. Stocks rose in Asia but are marginally softer in […] More

Month-end Data Deluge and Better Market Tone

January 31, 2012

Riskier assets were better bid on the final day of January. Stocks are mostly higher.  The dollar is down.  Commodities and bond yields rose. The dollar has fallen 1.2% against the kiwi, 0.7% relative to the Aussie dollar, 0.5% against sterling, the euro, yuan and Swiss franc, and 0.6% versus the loonie. The euro touched […] More