German ZEW expectations index

Covid-Related Setbacks in European Confidence, a Smaller Chinese Trade Surplus, and Another Day for Barrett Confirmation Hearings

October 13, 2020

Some risk aversion has returned to Europe. In many countries there, lockdown restrictions against Covid-19 have had to be tightened. And data reports out today reflect rising concern. For example, the ZEW expectations index of financial investor confidence toward Germany suffered a big setback this month, dropping to a five-month low of 56.1 from September’s […] More

Further Erosion of Dollar’s Value

September 15, 2020

The dollar dropped 0.6% to a 16-month low against the Chinese yuan overnight and also lost 0.5% relative to the Australian dollar, 0.4% vis-a-vis the Mexican peso, 0.3% versus the kiwi, Swiss franc, loonie, euro and sterling, as well as 0.1% against Japan’s yen. The latest declines bring the dollar’s trade-weighted depreciation over the past […] More

Some Sizable Financial Market Moves Overnight

August 11, 2020

The dollar lost 0.4% against the euro, Swiss franc, Australian dollar and Mexican peso. The U.S. currency also fell 0.5% versus the Canadian dollar, 0.3% relative to sterling, 0.2% vis-a-vis the Chinese yuan, and 0.1% against the kiwi but ticked 0.1% higher versus the yen. This time, dollar depreciation wasn’t correlated with a strengthening price […] More

Continuing Interplay of Covid and Economic Data

July 14, 2020

Covid-19 infestations in Texas, Florida, and California cast a big cloud on U.S. economic recovery prospects. The global Covid case and death counts climbed 204k and 4.1k in the past 24 hours. The dollar rose overnight by 0.3% versus the Chinese yuan, 0.2% against sterling and the kiwi, and by 0.1% relative to the yen […] More

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

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