German ZEW expectations index
Monday’s Equity Rally Not Sustained Amid Both Upbeat and Worrisome Developments
May 19, 2020
Pacific Rim stock markets extended Monday’s stock market rally, but share prices subsequently turned lower in Europe and U.S. stock futures. Markets closed up 2.3% in South Korea, 1.8% in Australia, 1.9% in Hong Kong, 1.7% in Singapore, 1.5% in Japan and 0.8% in China. But there are losses of 2.1% in Spain, 1.6% in […] More
Several Big Developments
April 21, 2020
Although well above Monday’s lows, the price of WTI oil (-$4.00 per barrel) remains negative. This development continues to ripple well beyond other commodity markets, including the exertion of a drag commodity-sensitive currencies. The dollar overnight advanced 2.5% against the Russian ruble, 1.3% relative to the New Zealand dollar and Mexican peso, 1.5% versus the […] More
Picking Apart the Pieces of Monday’s Rout
March 17, 2020
Stocks overnight did not fall as steeply as such had Monday in the United States. In the Pacific Rim, share prices fell 2.5% in South Korea, 2.9% in Taiwan, 5.0% in Indonesia, 2.3% in India, 1.7% in Singapore but just 0.3% in China. Equities rebounded 5.8% in Australia and 0.1% in Japan. European markets show […] More
Dollar Draws Strength from Coronavirus and Lower Financial Market Confidence in Euroland Economic Outlook
February 18, 2020
Share prices fell today by 1.5% in Hong Kong and South Korea, 1.4% in Japan and 1.0% in Taiwan. Equity markets are down in Europe by 0.9% in the U.K., 0.7% in Germany, 0.5% in France and 0.4% in Switzerland. Risk aversion is also reflected in fixed income markets, where 10-year sovereign debt yields have […] More
Little Overnight Change in the Dollar
December 10, 2019
The dollar rose 0.3% against sterling and the Australian dollar but shows nil overnight change otherwise. Stocks were narrowly mixed in the Pacific Rim and are down slightly in Europe. There been little share price movement in the U.S. thus far today. Ten-year sovereign debt yields firmed three basis points in Great Britain as the […] More
Confusion on Many Fronts
October 15, 2019
Details of the Phase I trade deal that U.S. President Trump proclaimed last week remain vague, and it’s unclear even if the Chinese and U.S. negotiators reached any kind of common ground to commit to writing. The pendulum of investor expectations about where trade talks are heading continues to swing wildly by the day and […] More
Marking Time
September 17, 2019
Ahead of the FOMC’s interest rate decision on Wednesday, the dollar moved overnight by no more than +/-0.1% against the euro, yen, Swiss franc, loonie and sterling. The dollar separately rose 0.5% versus the Australian dollar after a signal that Aussie monetary policy might be eased further, and gains were made of 0.4% relative to […] More
Peso Panic and Some Deescalation of the U.S.-Sino Trade dispute
August 13, 2019
Sunday’s primary election in Argentina served notice that populism is making a big comeback there and has generated a stampede out of the peso (down nearly 22%) and local stocks, whose share prices tumbled nearly 50% and by the second largest day-to-day slump in seven decades. Investors fear a return to protectionism and other state […] More
Stronger Dollar
July 16, 2019
The dollar strengthened overnight by 0.9% against sterling, 0.6% relative to the peso, 0.4% versus the euro and Swiss franc, 0.3% vis-a-vis the yen, 0.2% against the Aussie dollar and 0.1% versus the kiwi. In other euro cross-rate developments, sterling weakened to a half-year low against the common currency, but the Swiss franc is hovering […] More
Upbeat Tone to Tuesday’s Data Reflected in Stocks and Bonds
April 16, 2019
Share prices rose 2.4% in China, 1.2% in Hong Kong, 1.0% in India, 0.8% in New Zealand, 0.7% in Indonesia, and 0.2% in Japan. Stocks in Europe show gains of 0.7% in both Germany and Switzerland and 0.4% in Great Britain. Ten-year U.S. Treasury and German bund yields advanced another basis point, and the dollar […] More
